Durable Goods Orders Up 3.4%

Orders for “big ticket” durable goods, powered by a jump in demand for military equipment, climbed 3.4% in March, the government reported today.

The Commerce Department said orders rose to $105.37 billion last month, the highest monthly orders total since December. The 3.4% increase followed an even stronger 6.7% rise in February. Both months followed a record 9.8% decline in January, which was attributed to turmoil caused by the new tax law.