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New orders for manufactured goods rise in March

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New orders for manufactured goods rise in March

However, increase misses analysts’ expectations.

New orders for manufactured goods increased 1.1% in March, the U.S. Census Bureau reported Friday. This followed a 1.5% increase in February. 

The increase fell short of analysts’ prediction of a 1.4% increase.

The increase in new orders was broad-based. A key indicator – new orders for durable goods (manufactured products expected to last three years or more) - rose 2.9% and, excluding transportation, new orders rose 0.6%, compared to February’s 0.7% increase.

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The news reinforces recent data that suggests that the economy is gaining some momentum heading into the 2nd Quarter.

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