US durable goods orders take a hit
New orders for long-lasting US-made manufactured goods unexpectedly fell 1.7% during February and a key gauge of companies’ appetite for investment also shrank, according to data on Wednesday, which will reinforce concern that the economy has chil...
By Agencies |
WASHINGTON :New orders for long-lasting US-made manufactured goods unexpectedly fell 1.7% during February and a key gauge of companies��� appetite for investment also shrank, according to data on Wednesday, which will reinforce concern that the economy has chilled.
Economists surveyed by Reuters predicted the report would show overall durable goods orders rose 0.8% in February, rebounding from January���s revised fall of 4.7%. This was previously reported as a 5.1% drop. Non-defence capital goods orders, excluding aircraft, a closely watched proxy for business spending, registered a decline of 2.6% after falling a downwardly revised 1.8% in January, the Commerce Department said.
Analysts polled by Reuters had expected this measure to slip 0.1% after a previously estimated drop of 1.5%.
Machinery orders slumped 13.3%, the steepest decline since records began in 1992, although the Commerce Department noted that the previous two months had both showed gains.
Economists surveyed by Reuters predicted the report would show overall durable goods orders rose 0.8% in February, rebounding from January���s revised fall of 4.7%. This was previously reported as a 5.1% drop. Non-defence capital goods orders, excluding aircraft, a closely watched proxy for business spending, registered a decline of 2.6% after falling a downwardly revised 1.8% in January, the Commerce Department said.
Analysts polled by Reuters had expected this measure to slip 0.1% after a previously estimated drop of 1.5%.
Machinery orders slumped 13.3%, the steepest decline since records began in 1992, although the Commerce Department noted that the previous two months had both showed gains.
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