Factory Orders Decline in March

Washington, DC, May 2, 2012 -- New orders for U.S. factory produced goods in March declined on lower demand for transportation equipment and other goods, according to the Commerce Department.

The government said orders for manufactured goods dropped 1.5 percent after a revised 1.1 percent rise in February.

Economists had forecast orders falling 1.6 percent after a previously reported 1.3 percent increase in February.

The report showed orders for transportation equipment fell 12.6 percent in March on lower demand for civilian aircraft.

Vehicles and parts orders were flat in March after rising 1 percent in February.