2023-05-02 16:12:03
New orders for US-made goods rebounded in March, supported by a jump in demand for civilian aircraft, but manufacturing in general continued to suffer under the pressure of higher interest rates.
The Commerce Department said on Tuesday that factory orders increased 0.9% following declining 1.1% in February.
Economists polled by Archyde.com had expected orders to rebound by 1.1%. Orders rose 2.4% year-on-year in March.
The manufacturing sector, which represents 11.3% of the US economy, is in decline due to the fastest campaign to raise interest rates applied by the Federal Reserve since the eighties. (Archyde.com)
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