Credit, Economy and Financial News from TruckingFactor.com

Factory Orders Down in March

The Commerce Department reported that factory orders fell 0.9% in March, as shipments of manufactured products declined 1.2%, an eighth consecutive decline. In addition, the government revised February’s increase in orders to show a 0.7% gain, compared to an original estimate of 1.8% growth. U.S. manufacturers have been pounded by the prolonged recession that has spread overseas and sharply reduced their foreign sales. For March, orders for durable goods fell 0.8%, while orders for nondurable goods dropped 1%. The weakness in nondurable goods reflected declines in demand for textile goods, clothing, paper and chemicals, which was partly offset by a rise in demand for petroleum.

Return to: Factoring, Credit and Economy News

Date Last Updated: 05/07/2009