MW: Durables orders tumble 1.3% on plunge in aircraft
By Rex Nutting
WASHINGTON (MarketWatch) - Demand for U.S.-made durable goods dropped for the first time in four months as orders for new aircraft plunged 67%, the Commerce Department reported Friday. Orders for durable goods fell 1.3% in March to a seasonally adjusted $176.7 billion after a 1.1% gain in February. Excluding transportation goods, however, new orders rose 2.8% to $136.5 billion in March, the fastest growth since the recession began in December 2007. Outside of civilian aircraft and defense goods, demand was brisk for most types of durable goods. Orders for core capital equipment goods - the kinds of equipment businesses invest in to maintain or expand their productive capacity - rose 4%, the largest increase since June.
