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U.S. Orders for Durable Goods Decline Again
New orders for manufactured durable goods in the U.S. dropped 1.4% to $231 billion from January to February, according to the U.S. Dept. of Commerce.
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New orders for manufactured durable goods in the U.S. dropped 1.4% to $231 billion from January to February, according to the U.S. Dept. of Commerce. Results reversed a 2% increase from December to January and marked the third month-to-month decline in the past four months.
Shipments of durables, which dropped 1.4% in January, slipped 0.2% to $244 billion in February.
The dollar value of new orders for motor vehicles and parts declined from $48.2 billion in January to $48.0 billion in February. Shipments fell to $47.9 billion from $48.0 billion.
Economists say the numbers show widespread weakness. They also note that orders for nondefense capital goods excluding aircraft, a proxy for business investment spending, shrank for the sixth consecutive month in February.
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