The data released by the U.S. Department of Commerce on the 27th indicated that orders for durable goods from US factories increased by 2.5% from the previous month to US$208.4 billion in March, indicating that US industrial production gradually recovered.
In February, US orders for durable goods increased by 0.7%. The data show that if the deducting of the transport equipment with greater volatility orders, in March orders for factory durable goods rose by 1.3%.
This round of economic recession has brought impact on U.S. manufacturing. In 2009, U.S. factories’ durable goods orders fell by 20.2%, the largest decline since 1992. The recovery of the manufacturing industry is an important driving force for the overall recovery of the U.S. economy. Economists expect that as domestic demand rises and exports increase, orders from US factories are expected to continue to grow.
U.S. Treasury Secretary Timothy Geithner said on the 26th that despite the challenges of high oil prices, U.S. industry, high-tech industries, and agriculture are gradually recovering and the recovery momentum is strong.
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