US factory orders decline in April

US factory orders declined for the eighth time in nine months in April, figures released on Tuesday showed.

According to the Commerce Department, orders for goods produced in US factories fell 0.4% month-on-month in April, a sharper drop than the 0.1% analysts had expected.

Orders for products meant to last at least three years fell 1% in April, while orders for nondurable goods rose 0.2%.