Factory Orders Drop the Most in Three Years

“WASHINGTON (Reuters)- New orders for U.S. factory goods in March recorded their biggest decline in three years as demand fortransportation equipment and a range of other goods slumped, government data showed on Wednesday.

The Commerce Department said orders for manufactured goods dropped 1.5 percent after a revised 1.1 percent rise in February.

Economists had forecast orders falling 1.6 percent after a previously reported 1.3 percent increase in February.

While the report showed broad weakness in March in a sector that has carried the economic recovery, anecdotal evidence suggests factories continued to expand as the second quarter started….”

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