U.S. orders for durable goods sink 4.2% in March (by Jeffry Bartash)

WASHINGTON (MarketWatch) - Orders for long-lasting U.S. goods sank 4.2% in March, largely because of fewer booking for commercial aircraft, the Commerce Department reported Wednesday. Economists surveyed by MarketWatch had expected orders to fall by 2.9% on a seasonally adjusted basis. Orders for transportation equipment slumped 12.5% -- the biggest drop since November 2010 -- as bookings plunged 47.6% for commercial aircraft. Yet orders also fell in most other categories, with the notable exception of autos, appliances and electrical equipment. Orders for autos and parts rose a scant 0.1% after a 2% gain in February. Excluding the volatile transportation sector, orders declined 1.1% in March. And orders for core capital goods, which exclude defense and transportation, fell 0.8% last month. Shipments of core capital goods, a number used to help calculate gross domestic product, rose 2.6% in March to mark the second straight rise. The increase in durable-goods orders for February, meanwhile, was revised down to 1.9% from 2.4%.