In March the indicator for US durable goods orders reached the lowest ebb over the last three years. The main reason for the drop is lower demand for aircrafts.
The US Durable Goods Orders contracted by 4.2% in March, having slid below the forecast. It was the most dramatic decrease in the indicator since January 2009. Sales of non-defense goods excluding aircrafts expanded for the second consecutive month, which made economists upgrade the US GDP outlook for the 1st quarter. Analysts surveyed by Bloomberg supposed that the indicator for US durable goods orders would dwindle by 1.7% in March.
The actual reading of the indicator is explained by waning demand on part of European and Chinese trade partners of the USA. However, the internal demand was rather high and thus supportive.
At the yesterday meeting, the FOMC members expressed hopes for gradual economic growth in the country and decided not to raise the cost of borrowing.
According to the projections of the US central bank, the American economy will be developing at a moderate pace in some quarters ahead and will then accelerate. This forecast is the result of a 2-day FOMC meeting held in Washington.
