WASHINGTON (Dow Jones)--U.S. factory orders fell at the sharpest pace in three years in March, a sign that demand is slowing amid an uneven economic recovery. Orders for manufactured goods declined 1.5% to $460.46 billion, the Commerce Department said Wednesday. That matched expectations of economists surveyed by Dow Jones Newswires. Factory orders over the previous month were revised down, as well, to a 1.1% increase from an initial estimate for a 1.3% gain.