Durable goods orders snap back in March and so does U.S. business investment

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Orders at U.S. factories for long-lasting goods such as computers and cars rose 0.8% in March and business investment rebounded after the first decline in a year, signaling the economy is still growing at a steady pace.

The numbers: Orders for U.S durable goods — products meant to last at least three years — advanced for the sixth time in the last seven months.

These orders fell in February for the first time in a year, so the rebound is encouraging. They are viewed by investors as a signal of future business prospects. Orders for new commercial planes sank 10%, but they tend to be lumpy from month to month and are not the best gauge of how Americans manufacturers are doing.

 

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