U.S. factory orders drop 0.8% in April on lower aircraft contracts

U.S. factory orders fell by 0.8% in April, somewhat higher than expected. Economists polled by MarketWatch has forecast a 0.5% drop. The decline was concentrated in commercial aircraft. Orders for nondurable goods rose slightly. The increase in factory orders in March, meanwhile, was raised a tick to 1.7%, the government said Monday.