New orders for U.S. factory goods recorded their biggest increase in eight months in March, boosted by demand for transportation equipment, but the underlying trend remained weak against the backdrop of a strong dollar.
The Commerce Department said on Monday new orders for manufactured goods increased 2.1%, the largest gain since July last year, after a revised 0.1% dip in February.
Economists polled by Reuters had forecast orders rising 2% in March after a previously reported 0.2% gain in February. Orders excluding transportation were flat in March after edging up 0.1% in February.
Manufacturing south of the border has been hit by the strong dollar and lower crude oil prices, which are putting a squeeze on the profits of multinational corporations and oil firms.
