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Mixed signals from durable goods report for March

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Business spending remains guarded.

New orders for manufactured durable goods in March increased $9.3 billion, or 4.0%, to $240.2 billion, the U.S. Census Bureau announced today. This increase followed a 1.4% February decrease.

However, non-defense capital goods orders excluding aircraft - so-call “core capital goods orders -  decreased 0.5% during the month. This was the seventh straight month of decline.

Analysts had estimated an increase in core capital goods orders of 0.3%. 

Much of the overall decline in core capital goods orders was related to both the strong US dollar and the pressure on the US oil production sector arising from significantly reduced oil prices. 

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