U.S. Durable-Goods Orders Rose Less Than Forecast in March

Orders for durable goods rose less than forecast in March as demand for automobiles, fabricated-metal products and machinery all declined, Commerce Department data showed Thursday.

The figures indicate that the slowdown in auto demand from consumers and tepid business investment weighed on manufacturers and sapped some economic momentum at the end of the first quarter. Traction in tax-reform legislation, following the Trump administration’s release of a plan this week, might hearten businesses that have long delayed spending amid tighter regulations since the last recession. While figures due Friday may show GDP growth of around 1 percent in the first three months of the year, economists expect a rebound from that pace.