US durable goods orders rise 2.6% in March

New orders for U.S. manufactured durable goods posted solid growth in March as demand rose across most categories, the U.S. Commerce Department reported on Thursday. Orders for durable goods increased 6 billion U.S. dollars, or 2.6 percent, to 234.8 billion dollars in March. It followed a 2.1 percent gain in February, marking the second consecutive monthly increase. The increase was led by a 4 percent jump on orders for transportation equipment. Demand for commercial aircraft, a volatile month-to-month category, surged 8.6 percent after rising 12.5 percent in the previous month. Orders for non-defense capital goods excluding aircraft, a gauge for business spending plans, also increased 2.2 percent in March after a 1.1 percent drop in February. The durable items are expected to last at least three years. Excluding the volatile transportation sector, new orders for manufactured durable goods increased 2 percent in March. Orders for computers, electrical products, communications equipment and metal products all advanced last month.