This Supports the Likelihood of Upward 1Q07 GDP Revisions
New orders at U.S. factories rose a greater-than-expected 3.1 percent in March on a rise in civilian aircraft orders, a Commerce Department report showed on Wednesday.
Analysts polled by Reuters were expecting factory orders to rise 2.1 percent. February orders were revised to show a 1.4 percent gain.
The CNN report didn’t note, but the Wall Street Journal did (requires subscription), that the original February estimate was plus 1.0%.
The February improvement should have driven higher production and output in March, and the March result indicates strength going into the second quarter.
