Commerce Dept. reports "disturbingly weak" factory goods orders

05/1/2013 |

The Commerce Department reported that orders for long-lasting U.S. factory goods fell in March by 5.7% -- the steepest decline in seven months. A drop in commercial aircraft demand, government budget cuts and a more cautious outlook are blamed for the drop. An analysis from Cliff Waldman, senior economist for the Manufacturers Alliance for Productivity and Innovation, called the numbers "disturbingly weak."

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