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Financial News: U.S. Durable Goods Orders Jump 2.7% In March

U.S. Durable Goods Orders Jump 2.7% In March

04/25/2019 - 08:48:00 (RTTNews)

(RTTNews) - Reflecting a significant rebound in orders for transportation equipment, the Commerce Department released a report on Thursday showing new orders for U.S. manufactured durable goods jumped by much more than expected in the month of March.

The Commerce Department said durable goods orders surged up by 2.7 percent in March after tumbling by a revised 1.1 percent in February.

Economists had expected durable goods orders to climb by 0.8 percent compared to the 1.6 percent slump originally reported for the previous month.

Excluding the spike in orders for transportation equipment, durable goods orders rose by 0.4 percent in March after edging down by a revised 0.2 percent in February.

Ex-transportation orders had been expected to inch up by 0.2 percent compared to the 0.1 percent uptick originally reported for the previous month.

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