Orders for long-lasting manufactured goods in the United States rose 2.6% in March, according to figures released Thursday morning, but a key category that tracks business investment spending fell for the third month out of the past four.
The Commerce Department said the big rise in orders for durable goods, which followed an even bigger 3.5% advance in February, was driven by a surge in demand for commercial aircraft. That shot up 44.5% last month. Excluding the volatile transportation category, orders would have been flat last month after a modest 0.9% rise in February.
The key category that follows business investment plans edged down 0.1%in March after a 0.9% increase in February. This investment category was also down in January and December, raising concerns about this important driver of economic growth.
