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U.S. Durable Goods Orders Fall More Than Expected In March

In another troubling sign for the manufacturing sector, the Commerce Department released a report on Wednesday showing a much bigger than expected drop in new orders for manufactured durable goods in the month of March.

The report showed that durable goods orders tumbled by 5.7 percent in March following a revised 4.3 percent increase in February.

Economists had expected orders to drop by 2.8 percent compared to the 5.6 percent increase that had been reported for the previous month.

Excluding a sharp drop in orders for transportation equipment, durable goods orders still fell by 1.4 percent in March versus a 1.7 percent drop in February.

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