Economic Buzz: US Durable Goods Orders Surge On Transportation Goods

Following a jump in orders for transportation equipment, the Commerce Department released a report on Thursday showing a bigger than expected increase in new orders for US manufactured durable goods in the month of March. The Commerce Department said durable goods orders surged up by 2.6% in March after spiking by an upwardly revised 3.5% in February. The increase in durable goods orders came as orders for transportation equipment shot up by 7.6% in March following an 8.9% jump in February. Orders for non-defense aircraft and parts showed another substantial increase, soaring by 44.5% in March after rising by 39.1% in the previous month. Excluding the skyrocketing orders for transportation equipment, however, durable goods orders came in unchanged in March compared to a 0.9% increase in February.