Orders tumble by 3.7 percent after a rise in March when businesses increased purchases in anticipation of tariffs.
Orders from United States factories have tumbled in April after a surge in March when businesses had front-loaded purchases in anticipation of tariffs.
New orders for US manufactured goods dropped by 3.7 percent on a monthly basis, worse than economists had expected, according to Census Bureau data released on Tuesday.
Economists polled by the Reuters news agency expected a 3.1 percent drop. Dow Jones forecast a 3.3 percent drop. On an annual basis, however, factory orders rose by 2 percent.
April’s report is in sharp contrast to the 3.4 percent increase in March, which topped five straight months of increases.
