Durable goods orders snap back in March and so does U.S. business investment

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The numbers: Orders at U.S. factories for long-lasting goods such as computers and cars rose 0.8% in March and business investment rebounded after the first decline in a year, signaling the economy is still growing at a steady pace.

The increase matched the estimate of economists polled by the Wall Street Journal.

Orders for U.S durable goods — products meant to last at least three years — advanced for the sixth time in the last seven months.

What’s more, the initially reported 2.2% decline in February was revised to show a smaller 1.7% drop, the government said Tuesday.

Another measure of factory conditions, known as core orders, advanced 1% in the month. The core number strips out transportation and military equipment and gives a better sense of underlying demand in the U.S. economy.

These orders fell in February for the first time in a year, so the rebound is encouraging. They are viewed by investors…

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