WASHINGTON — New orders for manufactured goods dropped 4% in March, the Commerce Department reported Friday.

New orders slipped $19.5 billion to $467.3 billion following a 1.9% advance the previous month, originally reported as a 3% climb. The March decline was the sharpest drop since a 5.1% decrease occurred from July to August 2012.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.