Durable Goods Orders Up 3.4% in March

The number of orders for long-lasting goods rose 3.4%, led by requests for automobile, metals and business equipment, according to a report released by the Commerce Department Friday.

The increase pushed the value of durable goods up to $192.7 billion, Commerce said. Durable goods orders rose 3.8% in February.

If transportation goods are excluded from the data, the report said that orders rose 3.3%, the largest rise since April 2002.

Trucking is a major beneficiary of new industrial orders because factory activity drives requests for transportation services.

Bloomberg News reported that economists had expected a much smaller increase in orders. A survey of experts showed a consensus expectation of a 0.7% increase in March.