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US durable goods orders inch up 0.8% in March
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Orders at U.S. factories for long-lasting goods rebounded in March after the first decline in a year, as manufacturers confronted a worsening supply-chain crisis that continued to weigh on business investment.
Bookings for all durable goods – products that are intended to last at least three years – rose 0.8% last month, the Commerce Department reported on Tuesday. Economists surveyed by Refinitiv forecast a 1% increase. It followed an upwardly revised 1.7% decline in February.
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Passenger planes and autos – volatile measurements that tend to swing sharply month to month – jumped 2.4% in March. A more precise measure of demand that excludes transportation and military hardware, known as core orders, rose 1% in March, rebounding strongly from the previous month.