Factory Orders Rise As Expected In March

Boosted by aircraft and also by motor vehicles, factory orders rose an as-expected 2.1 percent in March. March's gain ends what were 7 straight declines as February, which was initially at plus 0.2 percent, is revised now to minus 0.1 percent. The 7 straight declines are the most striking evidence of how hard the manufacturing sector has been hit, by the strong dollar that weakens exports and also specific trouble in the energy sector due to the downturn in oil.

Recent History Of This Indicator;
Factory orders have been one of the most disappointing indicators on the calendar, falling in 6 out of the last 7 reports. But a 2.1 percent gain is expected for the March report based on the previously released 4.0 percent jump in the durable goods component that got a boost from not only aircraft but also motor vehicles. Still, a gain for March won't raise too much enthusiasm given the broad weakness seen in April's manufacturing surveys.