Durable Goods Orders Static

Orders to the nation’s factories for “big ticket” durable goods were virtually unchanged in March as a drop in orders for military hardware more than offset gains elsewhere, the government said today.

The Commerce Department said orders for durable goods, items expected to last three or more years, rose less than 0.1% to $114.3 billion last month. That was far less than the 1.3% advance most economists had been expecting. However, the government raised its estimate of new orders in February to a 0.1% gain for the month, rather than the previously reported 1.1% drop.