Orders to U.S. factories for large manufactured goods fell sharply last month, pulled down by lower demand for commercial aircraft and cars.
Orders to U.S. factories for large manufactured goods fell sharply last month, pulled down by lower demand for commercial aircraft and cars, while businesses also pulled back on investment spending.
"Uncertainty related to the trade war may be finally sapping business confidence," Feroli said."Second, disappointing global growth developments appear to be, once again, restraining domestic activity growth." The downgrades suggest that growth is fading after growth clocked in at 3.2% in the first quarter. That figure was boosted by one-time factors, such as a large increase in goods held on store shelves and in warehouses.
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