Durable goods orders rise less than expected in March

pulse

April 27, 2017 1:51 PM

Capital spending has been depressed over the last couple of years due to the collapse in energy prices.

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Durable goods orders rose less than expected in March, according to an advance release from the Department of Commerce on Thursday.

Orders for things designed to last for three or more years rose by 0.7%, a third-straight monthly increase.

Excluding volatile transportation orders, so-called core durable goods fell by 0.2%, dragged by lower orders for communications equipment and computers.

Economists had forecast that durable goods orders rose 1.3% while core durable goods orders rose 0.4%.

"The latest manufacturing sentiment data continue to point to a noticeable pickup in activity in the sector," said Deutsche Bank economists in a preview.

More to come ...

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