US durable goods orders rise slower than expected in March
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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