Orders for Durable Goods Pulled Down by Transportation Sector

Orders for durable goods fell unexpectedly in March by 1.3%, but just beneath that disappointing number was an important, positive result.

Excluding transportation, new orders increased 2.8%, the most since December 2007, the Commerce Department said Friday, April 23. The overall number was dragged down by a whopping decline of 67% in commercial aircraft orders, a typically volatile sector.

The 2.8% increase was four times larger than predicted, according to analysts surveyed by Bloomberg. The survey also forecast a gain of 0.2% in total orders.