US Orders for Business Equipment Tick Up After Downward Revision

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Orders placed with US factories for business equipment rose modestly in March, with the value of core capital goods orders increasing 0.2% after a downwardly revised 0.4% advance in February. Bookings for all durable goods rose 2.6%, and excluding transportation equipment, orders climbed 0.2%. The gain in overall durables orders included increases in motor vehicles and computers and electronic products. New orders for capital goods were much stronger on the back of firmer commercial aircraft and defense-related bookings. The second-straight increase in core capital goods orders points to some stabilization in equipment investment. Core capital goods shipments rose 0.2% after falling in February. Recent purchasing managers surveys have sent mixed signals for US manufacturing, with the Institute for Supply Management's manufacturing gauge showing factory activity expanded in March for the first time since September 2022, while the S&P Global flash April PMI contracted for the first time in four months.

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https://finance.yahoo.com/news/us-orders-business-equipment-tick-130101483.html