Factory goods orders up for fourth straight month in March

Washington

NEW orders for US-made goods increased for a fourth straight month in March and orders for capital equipment were stronger than previously reported, pointing to a sustained recovery in the manufacturing sector.

Factory goods orders rose 0.2 per cent, the Commerce Department said on Thursday after an upwardly revised 1.2 per cent increase in February. Economists polled by Reuters had forecast factory orders gaining 0.4 per cent in March after a previously reported one per cent increase in February.