Factory Orders Rise in March

Washington, DC, May 3, 2011 -- Factory orders rose in March for the fifth consecutive month, according to the Commerce Department.

Order rose 3% to $462.9 billion. Economists had expected a 2.2% increase.

Shipments increased for the seventh straight month, rising 2.7% to $461.4 billion. Inventories, up 14 of the last 15 months, increased 1.1%.

Durable goods orders rose 2.9%, up from the previously published 2.5%.