WASHINGTON — Durable goods orders increased 2.5% in March, exceeding economists’ forecasts, as orders for nonmilitary capital goods, excluding aircraft, increased by the largest amount in four months, the Commerce Department reported Wednesday.
February’s durable goods orders figure was revised to a 0.7% increase from a 0.9% decline reported last month. For the first quarter ending in March, durable goods jumped 7.0%.
Excluding transportation orders, durable goods gained 1.3% in March following a 0.6% increase in February.
Orders excluding transportation have risen in four of the past five months. In March, transportation orders increased 5.9% as motor vehicle and parts orders jumped 3.7%, the largest increase since July 2010.
Economists polled by Thomson Reuters expected durable goods orders would increase 2.0%, according to the median forecast.
Nonmilitary capital goods orders, excluding aircraft, increased 3.7% in March, the largest increase since December. Shipments increased 2.2% and unfilled orders gained 1.1%.
