Businesses boosted durable-goods orders in March

AP News
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Posted: Apr 27, 2011 8:37 AM
Businesses boosted durable-goods orders in March

Businesses increased their orders for heavy machinery, computers, autos and steel in March, boosting demand for long-lasting manufactured goods for a third straight month.

The Commerce Department says durable-goods orders rose 2.5 percent in March. That's up from a small 0.7 percent increase the previous month.

A key category considered a proxy for business investment rose 3.7 percent after two lackluster months.

Orders for durable goods totaled $208.4 billion in March, 29.8 percent above the recession low hit in March 2009.