US Factory Orders Stage Modest Rebound in April

US Factory Orders Stage Modest Rebound in April

In April, unfilled orders rose 0.3% and inventories increased 0.2%, while shipments fell 0.7%.

WASHINGTON - New orders for U.S. manufactured goods rebounded in April but were not nearly strong enough to wipe out March's plunge, the government reported Wednesday.

Factory orders rose 1% in April, the Commerce Department said, well below analyst expectations of a 1.6% rise.

The department revised the March contraction higher, to 4.7% from an initial estimate of 4%.

In April, unfilled orders rose 0.3% and inventories increased 0.2%, while shipments fell 0.7%.

Transportation equipment orders led the monthly gain. The often-volatile orders soared 8.4% on sharp gains for defense and commercial aircraft.

Excluding transportation, new factory orders fell 0.1%.

On a 12-month basis, April orders were up 0.2%.

Copyright Agence France-Presse, 2013

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