WASHINGTON – Orders to U.S. factories fell in April for the first time in five months amid declining demand for heavy machinery, iron and steel, and commercial airplanes. A key category that tracks business investment was weak for a third month.
Factory orders edged down 0.2 percent in April after a 1 percent increase in March, the Commerce Department said Monday. It was the first decline since a 2.3 percent drop last November.
A category that serves as a proxy for business investment posted a tiny 0.1 percent gain. Orders in this closely watched category had been flat in March.
The weakness in April was expected to be temporary, given hopes that manufacturing has started to bounce back in recent months from a prolonged slump last year.
