A report released by the Commerce Department on Tuesday showed a substantial pullback by new orders for U.S. manufactured goods in the month of April.
The Commerce Department said factory orders plunged by 3.7 percent in April after surging by a downwardly revised 3.4 percent in March.
Economists had expected factory orders to tumble by 3.0 percent compared to the 4.3 percent spike originally reported for the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.