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Durable Goods Orders Post 1st Drop in 10 Months
(MarketWatch) Orders for durable goods fell 1.1% in February, the government said Wednesday. These are products such as electronics, appliances, machines, cars and other transportation equipment meant to last at least three years.
Economists surveyed by Dow Jones and the Wall Street Journal had forecast a 0.6% increase.
The decline in orders last month was broad based. Bookings in every major category fell except for commercial passenger planes. A key measure of business investment, meanwhile, also fell in February after nine straight increases. These are known as core orders and exclude defense and transportation.
Economists surveyed by Dow Jones and the Wall Street Journal had forecast a 0.6% increase.
The decline in orders last month was broad based. Bookings in every major category fell except for commercial passenger planes. A key measure of business investment, meanwhile, also fell in February after nine straight increases. These are known as core orders and exclude defense and transportation.
