Investment orders drop in February

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WASHINGTON (AP) — U.S. orders for long-lasting goods that signal business investment plans fell in February by the largest amount in seven months, although the decline followed a strong month in January and may prove to be a temporary setback.
The Commerce Department says orders for core capital goods declined 2.7 percent in February. Demand weakened for machinery and communications equipment. The decline followed a 6.7 percent surge in January, which was the biggest one-month gain in nearly three years.

Overall orders for durable goods surged 5.7 percent in February, the biggest increase in five months. The increase was driven by a rebound in the volatile commercial aircraft category.

Durable goods are products expected to last at least three years. Orders can fluctuate sharply from month to month.

By |March 26th, 2013|

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