U.S. March Durables Orders Unexpectedly Fall 2.8% [View All]

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April 27 (Bloomberg) -- U.S. orders for durable goods unexpectedly fell 2.8 percent in March, the biggest decline in more than two years, as demand for aircraft, cars and computers slumped, a government report showed.

Orders for expensive items made to last at least three years decreased to $194 billion after falling a revised 0.2 percent in February, the Commerce Department said today in Washington. Forecasts called for an increase in March orders. Excluding orders for transportation equipment, bookings fell 1 percent after falling a revised 0.2 percent.

Surging costs for gasoline and crude oil are hurting profits at companies such as U.S. appliance maker Maytag Corp., which may be causing investment in new equipment to slow. High fuel costs also are leading consumers to spend less, indicating a slower pace of economic expansion in coming months.