Factory Orders Up 3.8%: The Commerce Department...
From Times Staff and Wire Reports
Factory Orders Up 3.8%: The Commerce Department said orders for both durable and non-durable goods rose 3.8% in March to a seasonally adjusted $240.4 billion after advancing 1.8% in February. Orders had fallen 5.5% in January, the worst decline in 16 years. The January drop was the steepest since a 7% decline in December, 1974. The March increase was the largest since a 4.7% gain in December, 1988. Robert G. Dederick, chief economist with Northern Trust Co. in Chicago, said the weakness “is behind us and we now have a flat, slightly upward bias.” Durable goods are big-ticket items expected to last more than three years.
