The U.S.
Commerce Department announced on Friday that the value of new factory orders soared
by 4.3 per cent m-o-m in March, following a downwardly revised
0.5 per cent m-o-m advance (from +0.6 per cent m-o-m) in February. This marked the strongest monthly increase in factory orders
since July 2024 (+4.9 per cent m-o-m).
Economists had foreseen
a surge of 4.5 per cent m-o-m in March.
According to
the report, orders for durable goods jumped
9.2 per cent m-o-m in March, primarily reflecting a 27.1 per cent m-o-m leap in
transportation equipment. Meanwhile, orders
for nondurable goods fell by 0.3 per cent m-o-m.
Total factory
orders excluding transportation, a volatile part of the overall reading, slipped
by 0.2 per cent m-o-m (compared to an upwardly revised 0.3 per cent m-o-m increase
(from +0.4 per cent m-o-m) 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 an 0.3 per
cent m-o-m decline in February and matching last month’s estimate).
On a y-o-y basis, factory orders were up 3.0 per cent.