Orders for Manufactured Goods Dips Slightly

Washington, DC, March 31, 2011 -- New orders for U.S. factory-made goods fell by 0.1% in February, the Commerce Department reported Thursday.

Economists were expecting overall U.S. factory orders to rise by 0.5% in February. Shipments of manufactured goods rose by 0.3%.

The dip came after three straight monthly gains but still left monthly orders at $446 billion, 26.4 percent above the recession low hit in March 2009.

Economists believe the data will rebound based on strong demand for exports and tax cuts designed to encourage businesses to spend more on capital goods.