New orders for durable goods rose for the third consecutive month in March, registering the highest growth rate since August of last year, according to a report released just moments ago by the U.S. Census Bureau. Orders rose by $26.6 billion, or 9.2%, to $315.7 billion, compared to a 0.9% increase in February. This figure exceeded market expectations of a 2.1% increase. Core orders, excluding transportation orders, remained unchanged after growing by 0.7% in February (expected 0.2%).
In detail, new orders excluding defense increased by 10.4%, with transportation equipment orders continuing to grow for the third consecutive month, rising 27% to $124.6 billion.