Durable Goods Orders Tumble on Economic Uncertainty

Durable goods orders plummeted 14.4 percent in March to $213.2 billion, said the U.S. Census Bureau in its latest report. The decrease followed three consecutive months of increase and was the largest monthly decline since August 2014.

Transportation equipment led the decrease in March falling 41 percent to $51.2 billion. Commercial aircraft and parts plunged 296 percent, due mostly to order cancellations at Boeing. Aircraft parts manufacturers were hit hard as global airlines grounded planes in response to the pandemic. Automotive orders dropped 18.4 percent as sales stalled due to job losses and shelter-in-place orders.