Where's the Defense? New Orders Down (March)

Marketwatch reports:

New orders declined in almost every industrial sector, although a key gauge of capital spending by businesses rose 1.5%, the second straight increase following a severe decline in January. New orders in the first quarter were down 27.1% compared with the first three months of 2008. Shipments of durable goods fell 1.7% in March and were down 18.4% in the first three months compared with the same period a year ago.

Source: Census