The U.S. Commerce Department said factory orders slipped 0.9 percent for March, reversing some of the previous month's rebound. February saw a revised increase of 0.7 percent after an orders drop of 3.5 percent in January.

Excluding the defense sector, factory orders were down 0.9 percent, following a slide of 0.1 percent in the previous month. Likewise, orders were down 0.9 percent leaving out the impact of the transportation sector.

Durable goods orders, or orders for items meant to last longer than 3 years, dropped 0.8 percent in March, giving back some of the 1.6 percent increase seen in February. In January, factory goods orders had plunged 7.8 percent.

Orders for more disposable non-durable goods were down 1.0 percent, continuing the slide seen in February, when orders edged down by 0.2 percent.

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