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Durable goods orders beat expectations

Fri, 04/24/2009 - 23:01 by Shruti Sharma

Washington -- Durable goods orders decreased by 0.8 percent in the United States in March, not as much as economists had expected, the U.S. Commerce Department reported.

The monthly report said new orders for manufactured durable goods -- products expected to last more than three years -- dropped to $1.61.2 billion.
Economists had expected a 1.4 percent drop.

Shipments of durable goods, down eight consecutive months, continued the trend, dropping 1.7 percent to $175 billion. Unfilled orders, down for six consecutive months, fell 1.4 percent to $760.3 billion, Commerce said.

As manufacturers adjust to slower demand, warehouses' inventories fell 1.1 percent to $331.6 billion following a 1.3 percent drop in February, Commerce said.

Copyright 2009 by United Press International.

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