New orders for manufactured durable goods (those designed to last more than three years) fell in March by $8.8 billion or 4.2% to $202.6 billion, according to an advance report from the U.S. Dept. of Commerce. This followed a 2.2% rise in February totaling $211.8 billion, 42% above the recession low, said a Commerce Dept. report released March 28. That increase came on the heels of a steep drop (-4.0%) in new orders for manufactured durable goods in January, a decrease of $8.6 billion to $206.1 billion.
Orders for “core” capital goods, a good measure of business investment plans rose 1.2% in February after demand for these goods fell in January by the most in a year, after the full tax credit expired.
Excluding transportation equipment, also down two of the last three months, had the largest decrease, $7.1 billion or 12.5% to $49.7 billion, due to nondefense aircraft and parts, which decreased $7.7 billion....