U.S. factory orders rose sequentially in March

U.S. factory orders rose sequentially in the month of March, coming in line with expectations. Orders were up 1.6 percent. The nondurable goods and shipments came in slightly stronger than expected. Durable goods orders were strong at the headline level, driven mainly by a rise in the volatile aircraft orders. Core capital goods orders and shipments were revised down a bit. On the other hand, there were upward revisions to February’s data.

“With regard to the effect on our tracking estimate, today’s data, coupled with upward revisions to February’s data boosted our tracking of nonresidential investment and inventory accumulation modestly.

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