WASHINGTON -- Orders for long-lasting US goods sank 4.2 percent in March, largely because of fewer bookings for commercial aircraft, the Commerce Department reported Wednesday.
Economists surveyed by MarketWatch expected orders to fall by 2.9 percent on a seasonally-adjusted basis.
Orders for transportation equipment slumped 12.5 percent -- the biggest drop since November 2010 -- as bookings plunged 47.6 percent for commercial aircraft. Yet orders also fell in most other categories, with the notable exceptions of autos, appliances and electrical equipment.
Orders for autos and parts rose a scant 0.1 percent after a two percent gain in February. Excluding the volatile transportation sector, orders declined 1.1 percent in March.
Orders for core capital goods, which exclude defense and transportation, fell 0.8 percent last month. Shipments of core capital goods, a number used to help calculate gross domestic product, rose 2.6 percent in March to mark the second straight rise.
The increase in durable-goods orders for February, meanwhile, was revised down to 1.9 percent from 2.4 percent.
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MarketWatch, commercial aircraft online, Commerce Department, transportation equipment
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