US Factory Orders Plunge 14.4% as Economy Grinds to Halt
WASHINGTON (AP) — Factory orders plunged 14.4% in March, the second-biggest decline on record.
The worse-than-expected slide underscores the severe economic impact of the pandemic.
The Commerce Department report Friday showed weakness across the board with demand for transportation products falling 41%.
Demand for motor vehicles and commercial airliners tumbled as travel seizes up.