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Output was slowed in March after U.S. factories saw less demand in February for long-lasting goods that signal business investment plans. Still, the decline followed a gain in January that was the biggest in nearly three years. Analysts said that when averaging the two months, business investment orders showed a solid increase for the January-March quarter. That's among the reasons some are predicting growth could increase to around 3 percent in the first quarter, up from 0.4 percent in the previous three months. Many predict growth will slow again in the April-June quarter, as the impact of higher Social Security taxes and government spending cuts begin to weigh on the economy. Both threaten to slow factory activity in the spring and summer.
[Associated
Press;
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