Factory Orders Fall in April on Shortages

Washington, DC, June 2, 2011 — The Commerce Department says orders to U.S. factories fell 1.2% in April.

Analysts believe much of the weakness will be temporary. Companies are having a hard time getting component parts because of production shutdowns in Japan after the March earthquake.

Orders to factories totaled $440.4 billion in April on a seasonally adjusted basis. That’s 31.1% higher than the recession-low hit in March 2009.