25 April 2001, 16:37 U.S. March durable orders surprisingly strong at +3.0%
WASHINGTON (MktNews) - The U.S. March durable orders report came in
surprisingly strong at +3.0%, but the gain was concentrated in
transportation in orders that might be a one-time phenomenon.
Durables orders posted their first increase since December, after
falling a revised 0.3% in February. Transportation was up 21.4% and all
its sub-categories rose, led by ships and tanks.
All other orders sectors fell, and ex-transportation orders were
off 1.8% in their third drop in four months (February was flat), showing
the factory sector remains weak.
Nondefense capital goods orders rose 5.2% but that gain reflects
Boeing's 55 orders which boosted civilian aircraft orders by almost 46%.
Boeing Company reported 55 orders in March, up from 17 in February and
48 in January.
Overall shipments were up 0.1%. But data which suggest the economy
remains weak include the 1.7% drop in primary metals orders, the 5.3%
drop in electronics orders, and the 0.7% drop in industrial machinery
orders.
Orders revisions are due May 21 and will reflect new
classifications and benchmarking.
The median estimate in a Market News International poll of
economists was for a 1.0% gain in durables orders.
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