facebook
twitter
search
search

Factory orders fell in March

May 3, 2013 at 10:37 AM

WASHINGTON, May 3 (UPI) -- Factory orders for U.S. manufactured goods dropped 4 percent in March, falling from an 11-year high, the Commerce Department said Friday.

Fresh orders in March fell by $19.5 billion to $467.3 billion, the department's U.S. Census Bureau News said. In the prior month, fresh business for factories was at the highest level since it adopted new accounting methods in 1992.

A lack of orders for big-ticket transportation items -- trucks, ships and airplanes -- pushed the decline. Transportation orders fell by $11.1 billion or 15.1 percent to $62.5 billion.

New orders excluding transportation dropped 2 percent in March.

Inventories rose for the fourth consecutive month, climbing by $200 million to $620.2 billion in March, enough to push the category to an 11-year high.

With shipments down by $5 billion or 1 percent to $481.8 billion, the inventories-to-shipment ratio rose to 1.29 from 1.27 in February.

New orders for durable goods -- including appliances, televisions, electronics, computers and cars -- down for two of the past three months, fell by 5.8 percent to $216 billion. New orders for non-durable items dropped by 2.4 percent to $251.3 billion, the department said.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Volvo unveils new child seat concept
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules