New orders for U.S. factory goods rose more than expected in March, driven by surging demand for electronics products amid the artificial intelligence investment boom.
Factory orders climbed 1.5 percent last month, the biggest gain since November, the Census Bureau reported Monday. Economists surveyed by Reuters had predicted a 0.5 percent increase. On a year-over-year basis, orders were up 3.7 percent.
The strength came after an upwardly revised 0.3 percent gain in February, signaling renewed momentum in a sector that accounts for roughly 10 percent of the U.S. economy.
The rebound suggests that despite recent economic headwinds, businesses…
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