U.S. core capital goods orders, a measure of hard goods being ordered from manufacturers, fell again in March.
So-called core orders excluding aircraft and military goods fell 0.5%. Shipments of core capital goods, a category used to help determine quarterly economic growth, dropped 0.4% in March
February’s numbers were in the negative as well and combined with March could signal a stagnant or reversing U.S. economy.
Economists cut first quarter growth to just above 1 percent or lower, with Amherst Pierpont Securities now forecasting absolutely no growth at all.
Military and aircraft orders showed an increase which offset the consumer drop in goods orders.
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