Factory orders dipped 0.2% in April, the Commerce Department said Monday.
That matched the Econoday consensus forecast and was the first monthly decline after a four-month stretch of increases. March’s 0.2% increase was revised up to a hefty 1.0% rise.
For the year to date, orders are 4.4% higher than in the same period a year ago. Excluding transportation, which can be volatile, orders rose 0.1% during the month, and are 5.5% higher compared to the same period in 2016.
Activity is ticking up, but so are inventories. Stockpiles rose a seasonally adjusted 0.1% during the month and are 2.5% higher than a year ago.
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