Friday, April 24, 2009
Demand for big-ticket manufactured goods fell less than expected in March, raising hopes that the long slide in manufacturing is nearing an end.
The Commerce Department says orders for durable goods dropped 0.8% last month, about half the 1.5% decline that economists expected. A rise in orders for commercial and military aircraft helped cushion weakness elsewhere.
The small drop followed a 2.1% increase in orders in February. That was the first increase after six straight monthly declines, but also was revised down from the 3.5% gain originally reported.