Increase in US factory and durable goods orders slows in March
The data showed that factory orders increased by 0.2% in March after a revised rise of 1.2% in February. However, this increase fell below the economists’ estimates of a rise of 0.4%.
The less-than-expected rise in factory orders was attributed to the fact that the 0.9% increase in orders for durable goods was partly pulled down by a drop of 0.5% in orders for non-durable goods.
The data also showed that the inventories of manufactured goods were unchanged in March month-on-month following a small rise of 0.2% in the previous month while the shipments of manufactured goods dropped by 0.1% after an increase of 0.2% in February.
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