US factory orders jump 1.3 pct in March

WASHINGTON, May 4 (BestGrowthStock) – New orders received by U.S.
factories jumped unexpectedly in March as businesses rebuilt
inventories, pointing to continued strength in manufacturing, a
government report released on Tuesday showed.

Orders for manufactured goods rose 1.3 percent after an
upwardly revised 1.3 percent gain in February, initially
reported as a 0.6 percent rise, the Commerce Department said.

Economists polled by Reuters were expecting a 0.1 percent
decline.

When transportation orders were stripped out, orders surged
3.1 percent, the biggest gain in almost five years. Excluding
defense, factory orders were up 1.3 percent.

Non-defense capital goods orders excluding aircraft, viewed
as an indicator of business confidence, leaped 4.5 percent, the
steepest increase since December 2007.

Durable goods orders fell 0.6 percent, the first decline in
four months, but the decline was less than the originally
reported 1.3 percent fall.
Stock Market Research

(Reporting by Mark Felsenthal, Editing by Andrea Ricci)

US factory orders jump 1.3 pct in March