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Financial News: U.S. Durable Goods Orders Rise Less Than Expected

U.S. Durable Goods Orders Rise Less Than Expected In March

04/27/2017 - 08:41:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Thursday showed that new orders for U.S. manufactured durable goods climbed by less than expected in the month of March.

The Commerce Department durable goods orders rose by 0.7 percent in March after jumping by a revised 2.3 percent in February.

Economists had expected orders to surge up by 1.2 percent compared to the 1.8 percent increase that had been reported for the previous month.

Excluding a jump in orders for transportation equipment, durable goods orders edged down by 0.2 percent in March after climbing by 0.7 percent in February.

The drop in ex-transportation orders came as a surprise to economists, who had expected a 0.4 percent increase during the month.

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