WASHINGTON — Factory orders increased 1.3% in March, an unexpected rise compared to economists’ estimates, as orders excluding transportation rose by the largest amount in more than four years, the Commerce Department reported today.
Orders excluding transportation increased 3.1%, the highest 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%.
