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U.S. Durable Goods Orders Register Solid 2.7% Rise in March
The U.S. Commerce Department reported Thursday that orders for large manufactured goods jumped 2.7% in March. Manufacturers’ shipments, inventories and orders rose $6.8 billion to $258.5 billion.
The business investment segment within the durable goods orders grew at its strongest pace in eight months. The category rose 1.3% in March, which is its best showing since a 1.5% increase last July.
The positive durable goods orders news follows February’s discouraging report, which recorded a drop of 1.1%. The volatile, yet influential, commercial aircraft category rebounded in March from a disappointing sharp fall in February. Transportation equipment led the increase, $6.1 billion or 7% to $93.8 billion.
On Friday, the government will report on the U.S.’s overall economic health. GDP was expected to expand at an annual rate of nearly 3% in Q1, up a full percentage point from previous estimates.
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- ◦Economy
