Orders for long-lasting goods resumed growth in March as the U.S. recovery stoked manufacturing demand that has been building since last fall.
New orders for durable goods—products designed to last at least three years, such as computers and machinery—increased 0.5% to a seasonally adjusted $256.3 billion in March when compared with February, the Commerce Department said Monday.
Orders have increased 10 out of the last 11 months. Low business and retail inventories have translated to increased demand for manufacturers for much of the past year. But supply-chain issuescontinue to constrain production and delay some shipments.
“Overall, the durable-goods sector is growing rapidly, with significant gains since declining sharply last spring due to the Covid-19 pandemic,” said Chad Moutray, chief economist for the National Association of Manufacturers. Mr. Moutray noted overall goods orders have jumped 4.1% over the past 13 months, or 10.8%, with transportation equipment excluded.
To read the full article from The WSJ, please click here