US factory orders surge in March
Excluding volatile transportation, factory orders increased 0.8% on the month while orders were up 0.2% excluding defense. A strong dollar and sluggish economic growth continued to weigh down the country’s manufacturing activities.
The data also revealed that orders for transportation rose 2.8% in March due to higher orders for ships and defense aircraft. Orders for motor vehicles slid 0.9% following an increase of 2.6% in February.
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