Manufacturing orders for U.S.-made goods fell slightly more than expected in December, according to a Feb. 3 report from the Commerce Department. U.S. manufacturers, which account for 11.9 percent of the economy, are being underpinned by businesses replenishing low stocked inventories. Factory orders fell by 0.4 percent in December, while data for November was revised higher, with orders increasing by 1.8 percent instead of the 1.6 percent as previously reported. Total manufacturing orders increased 16.9 percent in 2021. Inventory purchases surged at a seasonally adjusted annualized rate of $173.5 billion in the fourth quarter of 2021, the second-largest quarterly increase on record. Many economists see the potential for inventories to further rise, as inflation-adjusted inventories remain below their pre-pandemic levels, while sales-to-inventory ratios are also low. Factory inventories climbed 0.3 percent in December. Inventories contributed 4.90 percentage points to the fourth quarter’s 6.9 percent annualized growth pace. In December, there …