New orders for key U.S.-manufactured capital goods increased slightly in March, but remained subdued due to the impact of interest rate hikes and slowing business spending. Core capital goods orders, a gauge of business spending on equipment, rose by 0.2%, while shipments rebounded by 0.2%. Overall business spending on equipment is expected to have seen a modest gain in the first quarter, but manufacturing showed signs of recovery with a surge in orders for durable goods.