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U.S. Durable Goods Orders Spike Much More Than Expected In March
(RTTNews) - A report released by the Commerce Department on Thursday showed new orders for U.S. manufactured durable goods surged much more than expected in the month of March amid a spike by orders for transportation equipment.
The Commerce Department said durable goods orders shot up by 9.2 percent in March after climbing by a downwardly revised 0.9 percent in February.
Economists had expected durable goods orders to jump by 2.0 percent compared to the 1.0 percent increase that had been reported for the previous month.
Excluding the sharp increase by orders for transportation equipment, durable goods orders were virtually unchanged in March after rising by 0.7 percent in February. Ex-transportation orders were expected to rise by 0.2 percent.
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