New factory orders post largest gain in eight months in March

Washington

NEW orders for US factory goods recorded their biggest increase in eight months in March, boosted by demand for transportation equipment, but the underlying trend remained weak against the backdrop of a strong dollar.

The report on Monday from the Commerce Department was the latest indication that while economic growth is regaining some momentum after abruptly slowing down in the first quarter, the rebound would not be as strong as experienced during the same period last year when output was chilled by cold weather.