surprising 2% by Rex Nutting
Orders for new durable goods rose an unexpected 2 percent in March, led by a doubling in demand for defense aircraft, the Commerce Department estimated Thursday. Excluding all defense goods, orders rose 1.3 percent. Shipments of durable goods rose 1 percent in March. The figures took Wall Street economists by surprise. They expected a decline of about 0.6 percent in March orders after February's revised 1.5 percent drop. While autos, civilian aircraft and metals were weak, all other sectors reported increased demand in March. Core capital goods orders (excluding civilian aircraft and defense goods) rose a healthy 3.2 percent in March.
Orders for new durable goods rose an unexpected 2 percent in March, led by a doubling in demand for defense aircraft, the Commerce Department estimated Thursday. Excluding all defense goods, orders rose 1.3 percent. Shipments of durable goods rose 1 percent in March. The figures took Wall Street economists by surprise. They expected a decline of about 0.6 percent in March orders after February's revised 1.5 percent drop. While autos, civilian aircraft and metals were weak, all other sectors reported increased demand in March. Core capital goods orders (excluding civilian aircraft and defense goods) rose a healthy 3.2 percent in March.