After reporting a steep drop in new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Wednesday showing another nosedive in factory orders in the month of April.
The Commerce Department said new orders plunged by 13.0 percent in April after plummeting by a revised 11.0 percent in March.
Economists had expected factory orders to tumble by 14.0 percent compared to the 10.3 percent slump 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.