U.S. February Durable Goods Orders Rose 2.2%, Missing Estimates

The Commerce Department reported that February durable goods orders increased 2.2%, missing estimates of 3.0% but still reversing a pullback in orders from January with a 3.6% revised decline.

A durable good is expected to last at least 3 years.

During the past five months, booking have increased with durable goods in 4 out of 5 months.

Durable goods orders totaled $211.8 billion in February.

Durable good orders were led by cars, machinery, autos, and aircraft while appliances led the decline.

Shipments of core capital goods, which impacts quarterly gross domestic product, rose 1.4% in February.

Business investment is expected to stay strong this year as many businesses will be making upgrades after enduring belt tightening measures during the height of the recession.

 

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