US factory orders unexpectedly rise in February
The data showed that factory orders excluding transportation climbed 0.8% to post their biggest increase in eight months while orders for non-defense capital goods excluding aircraft, which is a measure of business confidence and spending plans, declined 1.1% after posting a 1.4% drop in the previous month.
Meanwhile, US manufacturing activity slowed to an almost two-year low in March, according to data reported by the Institute of Supply Management (ISM). Meanwhile, according to Markit Economics, an output index for March climbed to a reading of 58.8 from 57.3 in the preceding month.
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