United States durable goods orders jump past forecasts in March

Lloyd Doyle
April 26, 2018

New orders for manufactured durable goods increased 2.6% in March to $254.9 billion, following a 3.5% February rise, according to the U.S. Census Bureau. New orders excluding the volatile transportation sector were unchanged.

A key indicator of investment trends in the United States rose past forecasts last month, preliminary data from the government showed, although some of the details of the report were a tad weaker-than-expected. But a rebound in demand in the key investment category seems to have stalled so far this year.

The bigger than expected increase in durable goods orders came as orders for transportation equipment shot up by 7.6 percent in March following an 8.9 percent leap in February.

The report also said orders for non-defense capital goods excluding aircraft, an indicator of business spending, edged down by 0.1 percent in March after climbing by 0.9 percent in February. Durable goods orders grew 2.6 percent sequentially, as compared with consensus expectations of 1.6 percent.

The 44.5 percent surge in orders for commercial aircraft followed a 39.1 percent rise in February after a 27.9 percent drop in January. That was the lowest weekly total in more than 48 years, since claims dipped to 202,000 for the week ending December 6, 1969.

Other reports by Iphone Fresh

Discuss This Article