The U.S.
Commerce Department reported on Thursday that the value of new factory orders surged
by 1.6 per cent m-o-m in March, following a downwardly revised
1.2 per cent m-o-m climb (from +1.4 per cent m-o-m) in February. This was the strongest monthly gain in
factory orders since November 2023 (+2.6 per cent m-o-m).
Economists had predicted
an increase of 1.6 per cent m-o-m for March.
According to
the report, orders for durable goods jumped 2.6 per cent m-o-m in March, primarily
reflecting a -7.8 per cent m-o-m surge in transportation equipment. Meanwhile, orders for
nondurable goods rose by 0.6 per cent m-o-m.
Total factory
orders excluding transportation, a volatile part of the overall reading, increased
by 0.5 per cent m-o-m (compared to an unrevised
1.1 per cent m-o-m advance in February), while orders for nondefense capital goods excluding aircraft, a
measure of business spending plans, edged up 0.1 per cent m-o-m (compared to a 0.4 per cent m-o-m gain
in February and instead
of increasing of +0.2 per cent m-o-m as reported last month).