Coronavirus forces record drop in factory orders in March
Factory orders dropped 10.3%, according to the Commerce Department
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WASHINGTON (Reuters) - New orders for U.S.-made goods fell more than expected in March and could sink further as disruptions from the novel coronavirus fracture supply chains and depress exports.
The Commerce Department said on Monday factory orders dropped 10.3%. Data for February was revised down to show orders dipping 0.1% instead of being unchanged as previously reported.
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Economists polled by Reuters had forecast factory orders tumbling 9.7% in March.
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(Reporting by Lucia Mutikani, Editing by Franklin Paul)