US factory orders drop more than expected in March

[WASHINGTON] New orders for US-made goods fell more than expected in March and could sink further as disruptions from the novel coronavirus fracture supply chains and depress exports.

The Commerce Department said on Monday factory orders dropped 10.3 per cent. Data for February was revised down to show orders dipping 0.1 per cent instead of being unchanged as previously reported.

Economists polled by Reuters had forecast factory orders tumbling 9.7 per cent in March. 

REUTERS