Factory Orders Up Big, Fueled by Transportation
According to the latest data from the Commerce Department, new orders for U.S. factory goods recorded their biggest increase in eight months in March, boosted by demand for transportation equipment.
At the same time, it was noted that the underlying economic trend remained weak due to a strong dollar, which naturally makes U.S. exports more expensive.
The Commerce Department said new orders for manufactured goods increased 2.1 percent, the largest gain since July last year, after a revised 0.1 percent dip in February. Economists polled by Reuters had forecast orders rising 2.0 percent in March after a previously reported 0.2 percent gain in February.
At the same time, orders excluding transportation were flat in March after edging up 0.1 percent in February.
Category: Featured, General Update
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
