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Latest In Economic Trends
March orders typically see a large bump, as many sector manufacturers end their fiscal year at the end of the month.
Month-to-month, sales were down in seven of the 10 durable goods categories that the Census Bureau tracks.
Economists had forecasted a monthly gain of 0.3%.
Persistent high inflation led the Fed to maintain its benchmark lending rate at a 23-year high.
It was a reversion from a March that had seen the first expansion-territory PMI since September 2022.
It reversed February’s 0.5% increase.
It was the second straight deceleration and fell well short of consensus forecasts, dampening hopes of Federal interest rate cuts.
It was the first consecutive increase since June of last year.
After a weak finish to 2023, the industry saw rebounds in monthly orders and shipments in the first two months of 2024.
It marked the first time growth occurred over two straight months since March-April of 2023.
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Though less than expected, the latest rise in the wholesale inflation gauge suggests Federal interest rate cuts could be further delayed.
It's another posititive indicator for the U.S. industrial economy, following a strong PMI reading at the start of April.
It was a solid rebound from a 3.8% decline in January.
During the first two months of the year, spending was up 11.9% from the same period in 2023.
At long last, U.S. manufacturing activity appears to be back in the black.
It followed a January monthly decrease of 0.2%.
A modest February increased followed a January that had the sharpest one-month decline since April 2020.
The buying group's quarterly membership survey showed considerable optimism among distributors despite potential headwinds later this year.
