U.S. factory orders rebound in March; business spending on equipment strong

By Reuters9 days ago

Reuters. FILE PHOTO: Technicians build LEAP engines for jetliners at a General Electric (GE) factory in Lafayette, Indiana, U.S. on March 29, 2017. REUTERS/Alwyn Scott

WASHINGTON (Reuters) - New orders for U.S.-made goods rebounded in March and business spending on equipment was stronger than initially estimated, boosted by robust domestic demand, though momentum could slow because of bottlenecks in the supply chain.

AD

The Commerce Department said on Tuesday that factory orders increased 1.1% in March after falling 0.5% in February.

Economists polled by Reuters had forecast factory orders rebounding 1.3%. Orders rose 6.6% on a year-on-year basis.

The White House's $1.9 trillion pandemic relief package and the expansion of the COVID-19 vaccination program to all adult Americans have led to a boom in demand, which is pushing against supply constraints.

Continue read on investing.com