The numbers: US orders for long-lasting durable goods rebounded in March after a poor performance in the previous month, but shortages of key supplies continue to hamper manufacturers in their race to keep up with growing demand from long-lasting durable goods. customers. Durable goods orders rose 0.5% last month, the government said on Monday. These are products like electronics, appliances, machines, cars, and other transportation equipment intended to last at least three years.
Economists polled by Dow Jones and the Wall Street Journal had forecast a rise of 2.2%. Orders were down a revised 0.9% in February, the first time since the pandemic began, mainly due to unusual winter weather and a sharp drop in car production due to a shortage of key computer chips. See: A visual look at how an unfair pandemic has reshaped domestic market work and reaction: The Dow Jones Industrial Average DJIA, + 0.67% and S&P 500 SPX, + 1.09% settled to open slightly higher in trading in the Monday.