The numbers: U.S. orders for long-lasting durable goods rebounded in March after a poor showing in the prior month, but shortages of key supplies are still hampering manufacturers as they race to keep up with rising demand from customers.
Orders for durable goods rose 0.5% last month, the government said Monday. These are products such as electronics, appliances, machines, cars and other transportation equipment meant to last at least three years.
Economists surveyed by Dow Jones and the Wall Street Journal had forecast a 2.2% increase.
Orders had shrunk a revised 0.9% in February — the first time since the pandemic began — mostly because of unusually harsh winter weather and a sharp drop in auto production owing to a shortage of key computers chips.
See: A visual look at how an unfair pandemic has reshaped work and home
Market reaction: The Dow Jones Industrial Average DJIA, +0.67% and S&P 500 SPX, +1.09% were set to open slightly higher in Monday trades.
Add Comment