Durable Goods Orders Decline Again in March

Washington, DC, April 24, 2009--Manufacturing declined in March, as demand for U.S.-made durable goods fell 0.8%, the seventh decline in the past eight months, the Commerce Department estimated Friday.

New orders declined in almost every industrial sector, although a key gauge of capital spending by businesses rose 1.5%, the second straight increase following a severe decline in January.

New orders in the first quarter were down 27.1% compared with the first three months of 2008.

Shipments of durable goods fell 1.7% in March and were down 18.4% in the first three months compared with the year-earlier period.