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The U.S. Commerce Department released durable goods orders data on Friday. The U.S. durable goods orders jumped 4.0% in March, exceeding expectations for a 0.7% increase, after a 1.4% decline in February.
The increase was driven by higher orders for defence aircraft and parts. Orders for defence aircraft and parts soared by 112.8%, while orders for non-defence aircraft and parts climbed by 30.6%.
The U.S. durable goods orders excluding transportation declined 0.2% in March, missing expectations for a 0.2% gain, after a 1.3% decrease in February.
The decline was driven by lower orders for machinery and electrical equipment, appliances, and components.