Economic Buzz: US Factory Orders Surge In March

US factory orders surged up by 1.6 percent in March, matching the upwardly revised jump seen in February, a report released by the Commerce Department on Thursday showed. The stronger than expected growth was partly due to a 2.6 percent spike in orders for durable goods, which came as orders for transportation equipment soared by 7.6 percent. The Commerce Department said orders for non-durable goods also rose by 0.5 percent in March after dipping by 0.3 percent in February.