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US durable goods orders rise slower than expected in March

by ChemOrbis Editorial Team -
  • 27/04/2016 (11:52)
According to data from the US Commerce Department, durable goods orders increased 0.8% in March following a revised decline of 3.1% in February. Economists’ estimates called for an increase of 1.9% in a survey by Bloomberg. The increase was attributed to higher demand for defense equipment such as military aircraft.

The data showed that overall defense orders surged 38.6% in March on the back of a 65.7% gain in demand for military aircraft and parts. Excluding defense, orders for durable goods fell 1% in March.

Orders for commercial aircraft, meanwhile, fell 5.7% in March after slumping 26.6% in February. Orders for motor vehicles and parts declined 3% while demand for appliances and other electrical equipment also declined 3%.

US manufacturing activities have been dragged down by lower oil prices, a global economics slowdown and a strong dollar.
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