Durable Goods Orders Fall for Third Straight Month

Washington, DC, April 24, 2008– Orders for U.S.-built durable goods fell 0.3 percent in March compared to February, marking the third monthly decline in a row, the Commerce Department said Thursday.

It’s the first time orders have fallen for three months in a row since early 2001.

Inventories of durable goods at the factory jumped 1.1 percent in March — a sign that could spell further layoffs and production cutbacks if demand doesn’t rebound.

Shipments of durable goods fell 0.4% in March after dropping 2.6% in February.

Orders for core capital equipment goods were flat in March after declining in January and February.