U.S. Durable Goods Orders Plunge Most Since 2014 on Pandemic

U.S. orders for durable goods declined in March by the most since 2014 as the coronavirus and slumping oil prices reverberated through the manufacturing sector and spurred cancelled orders for Boeing Co. airplanes.

Bookings for goods meant to last at least three years dropped 14.4%, led by slumping demand for commercial aircraft, after a revised 1.1% gain in February, Commerce Department data showed Friday. The median projection in a Bloomberg survey of economists called for a 12% decrease. Closely watched core capital goods orders, which exclude aircraft and military hardware, rose 0.1%, compared with estimates for a steep decline.