Reports Show Healthy Economy
WASHINGTON — Factory orders and construction spending rose sharply in March and productivity also improved, the government said today in a series of reports that reflected a healthy, growing economy.
The value of factory orders jumped 1.6% in March, the largest gain since December, the Commerce Department said. Construction spending in March had its biggest monthly gain in nearly a year, rising 1.5% to an annual rate of $401.8 billion after a 0.4% advance in February. The Labor Department, meanwhile, reported that worker productivity in the non-farm sector rose at an annual rate of 0.9% in the first quarter of the year after falling 1% in the last quarter of 1987.
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