U.S. Factory Orders Grow in March

New factory orders in the United States increased in March, supported by an improving local demand. In addition, business spending on equipment exceeded market expectations, data showed on Tuesday.

Factory orders rose by 1.1% in March, following a 0.5% decline in February, according to the U.S. Department of Commerce.

Unfilled factory orders also increased by 0.4% after a 0.9% surge in the month before.

Orders for non-defense capital goods surged by 1.2%, following an increase of 0.9% in February.