US demand for durables increases for third consecutive month

DEMAND growth for manufactured durable goods - products expected to last more than three years - increased 2.5 per cent in March in the United States, marking the third consecutive month rise and an uptick from February`s 0.7 per cent growth.

US Commerce Department said the March increase in durables repeated February`s gain by increasing 1.3 per cent in new orders with transport equipment excluded, and 2.3 per cent minus defence orders.


It also noted that business investment increase its annual rate slightly to 2.2 per cent compared with a 7.8 per cent increase in the last quarter of 2010.


Commercial aircraft growth was slightly up in March at 0.9 per cent, widely lower than industry figures like Boeing, which expects a rise from 21 aircraft orders in February to 98 the following month.


Manufacturing activity has increased across all 12 federal districts, according to a report by the Federal Reserve`s latest Beige Book survey on regional economies.