Durable goods data shows manufacturing sturdy

A key gauge of U.S. manufacturing rose in March and new orders in February were stronger than initially thought, indicating a vibrant factory sector even as the economy slowed in the first quarter.

New orders for manufactured goods meant to last at least three years increased 2.5 percent after an upwardly revised 0.7 percent rise in February, the Commerce Department said on Wednesday.

Durable goods orders in February had been previously reported to have dropped 0.6 percent, while the rise in March beat economists' expectations for a 2 percent advance.

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- Posted: 2011-04-27 11:46:20

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