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US March factory orders up 3.1 pct vs 2.0 pct rise expected, largest in a year
WASHINGTON (Thomson Financial) - Orders to US factories for manufactured goods rose by the largest amount in a year, while a key gauge of US business investment rose by the largest amount in two and a half years, the Commerce Department said today. New orders rose 3.1 pct in March after rising a revised 1.4 pct in the prior month. That's the largest increase since March of last year, and stronger than the 2.0 pct gain economists had expected. Durable goods orders rose a revised 3.7 pct in March, stronger than the 3.4 pct rise estimated last week. Excluding transportation related orders, factory orders rose 1.9 pct in March after remaining unchanged in February. Excluding orders for defense related goods, factory orders rose 3.5 pct in March, the largest increase in a year. Non-defense capital goods rose 11.8 pct in March. Excluding the volatile aircraft component, non-defense capital goods rose 4.8 pct in March, the largest rise since September 2004. Non-durable goods orders rose 2.3 pct in the month, the largest monthly increase since January 2006. Inventories rose 0.2 pct in March, while shipments rose 1.6 pct in the month. The inventory to shipments ratio fell slightly to 1.23 in March from 1.25 in the prior month. [size=1][color=silver][email][email protected][/email] cbd/wash/jkm COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. [/color][/size]