Factory Orders Fall

February factory orders were much weaker than expected, led by decreases in chemicals, beverage and tobacco, and paper products

Factory orders shocked the market by dropping 0.1% in February, as a 2.4% decline in nondurable orders offset a 1.8% rise in durables (revised up from the 1.5% reported last week). The market had expected a 1% rise in factory orders. Excluding defense, orders were down 1.2%, following a 1.2% rise in January.

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