Durable Goods Orders rose 0.8% in March
Orders for U.S. durable goods climbed less than forecast in March as demand for capital equipment remained weak, a sign that a diminished growth outlook is impeding investment. Bookings for items meant to last at least three years rose 0.8% after a revised 3.1% slump a month earlier, data from the Commerce Department showed Tuesday.
The median forecast in a Bloomberg survey called for a 1.9% advance. Orders for business equipment were little changed last month, also weaker than projected. Businesses continue to grapple with soft global sales and middling U.S. consumer spending, which make it difficult to justify expanding plans for capital outlays. Scope for a pickup will be limited until demand accelerates and companies feel more confident that their investments will pay off.
Euro is currently being traded few points above 1.13 level, Sterling is around 1.46 handle, while Aussie is at 0.7740 area.
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