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US factory orders unexpectedly rise in February

by ChemOrbis Editorial Team - content@chemorbis.com
  • 02/04/2015 (17:49)
According to data released by the US Commerce Department, new factory orders unexpectedly increased in February after posting a sixth consecutive decrease in January. Factory orders rose 0.2% in February to post the largest gain since July. Economists’ initial estimates called for a decrease of 0.5% in February, according to a survey by Reuters.

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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