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Durable goods drop in February

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Durable goods drop in February

Business spending remains guarded.

New orders for manufactured durable goods in February decreased $3.2 billion or 1.4%, to $231.3 billion, the U.S. Census Bureau reported today. This followed a downward-revised 2.0% increase in January.

Analysts had estimated an increase in new orders of 0.2%. 

Excluding transportation, new orders decreased 0.4%, the fifth decline in as many months.

Much of the overall decline was related to transportation, although weakness was widespread.  A key measure of business spending – nondefense orders excluding aircraft – fell 1.4% during the month, marking its sixth consecutive monthly decline.

 

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