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- U.S. factory orders decline less than forecast in April
U.S. factory orders decline less than forecast in April
The U.S.
Commerce Department reported on Wednesday that the value of new factory orders tumbled
13.0 percent m-o-m in April, following a revised 11.0 percent m-o-m plunge in March
(originally a 10.3 percent m-o-m decline). That was the biggest fall in new
orders on record.
Economists had
forecast a 14.0 percent m-o-m decrease.
According to the report, orders for transportation equipment plummeted 48.3 percent m-o-m in April after a 43.2 percent decrease in the previous month. Total factory orders excluding transportation declined 8.5 percent m-o-m in April compared to a 4.0 percent m-o-m fall in March.
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