U.S. March factory orders, shipments climb

U.S. factory orders surged in March, posting a fifth straight monthly increase that showed a healthy manufacturing sector well placed to support economic recovery.

The Commerce Department said on Tuesday new orders for manufactured goods rose 3 percent to a seasonally adjusted $463 billion, well above Wall Street economists' forecasts for a 1.9 percent pickup.

In addition, February orders that had been reported as dropping by 0.1 percent were sharply revised to instead show a 0.7 percent increase.

A cheaper U.S. dollar has helped export industries and there are signs that producers are boosting investment in plants and equipment to benefit from it.

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- Posted: 2011-05-03 13:00:25

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