US Factory Orders Decline 0.6% against Expectations of 0.3% Increase - 4.6.2012
US Factory Orders drop by 0.6 per cent in April compared to a revised decline of 2.1 per cent in March as the Department of Commerce reported today. Also the Factory Orders were weaker than an expected slightly increase at 0.3 per cent, increasing the concerns on the U.S economy after Friday’s disappointing news on Non-Farm Payrolls. U.S economic recovery is slowing as unemployment data are not improving, demand is falling which is confirmed by falling Factory Orders and Europe crisis is deepening. For that reason there are increasing rumors that the Federal Reserve may come with a new Quantitate Easing to support the stalling economic activity. Furthermore the G7 will hold a conference call on Europe tomorrow morning as Reuters reported.