Factory orders, jobless claims rise in March

? An unexpectedly strong advance in orders to factories for big-ticket goods spurred hope that the economy may be starting to rebound. However, the government also reported that new jobless benefit claims hit the highest level in a year.

Economists said taken together the two reports Thursday depicted an economy inching away from the threat of a double-dip recession but still has yet to mount a sustainable rebound.

The Commerce Department said that orders to U.S. factories for big-ticket durable goods, items expected to last three or more years, rose by a solid 2 percent in March, surprising economists who had been looking for a decline of 1 percent on the heels of a 1.5 percent drop in February.

The Labor Department, meanwhile, reported that the number of newly laid-off Americans applying for unemployment benefits rose by 8,000 last month to 455,000, the highest level since late March 2002.