Factory Orders Rise 1.3%; Ex-Transportation Up 3.1%

WASHINGTON — Factory orders rose 1.3% in March, in what was an unexpected increase compared to economists’ estimates, as orders excluding transportation jumped by the largest amount in more than four years, the Commerce Department reported yesterday.

Orders excluding transportation increased 3.1%, the largest monthly increase since August 2005.

Economists expected factory orders to decrease 0.1%, according to the median estimate from Thomson Reuters.

February’s factory orders were revised higher to a 1.3% gain from the 0.6% increase initially reported.

Transportation equipment orders fell 12.3% and led to a 0.6% decline in total durable goods, the first decline in four months. Orders for electrical equipment increased 7.1% and orders for machinery increased 8.6%.

Nondurable goods orders rose 2.9% in March.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER