Factory orders disappoint with their biggest drop in a year

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The US factory orders fell 0.6% in April, worsening the 0.2% decline expected by the markets. This is the largest drop recorded by the indicator since April 2020.

The March result has been revised upwards, rising to 1.4% from the 1.1% published the previous month. In the last twelve months, orders have only dropped twice, in February and April 2021.

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