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US durable goods orders rebounded in March

26 Apr 2021 03:19 PM

Long-term US durable goods orders rebounded in March after a weak performance the previous month, but a shortage of key supplies continues to hold back manufacturers as they race to keep up with growing customer demand.

On Monday, the government said durable goods orders rose 0.5% last month. These products, such as electronics, appliances, machinery, cars, and other transportation equipment, are supposed to last for at least three years.

Expectations indicated a 2.2% increase. Requests would have been three times stronger in March had it not been for a sharp drop in commercial and military aircraft reservations.

Orders fell in February for the first time since the pandemic began, mostly due to unusually harsh winter weather and a sharp drop in car production due to a shortage of mainframe computer chips. However, one problem few companies face is the lack of demand.

The US economy accelerated after another massive stimulus and a drop in coronavirus cases. By nearly every measure, the demand for a range of manufactured goods is on the rise and it is unlikely that there will be any stoppages in the near future.

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