Durable Goods Orders Make Unexpected 0.9% Drop in February
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Orders for goods built-to-last fell unexpectedly last month, as demand for capital goods and military aircraft declined.
The Commerce Department reported Thursday that orders for durable goods fell 0.9 percent in February, following a 3.6 percent gain in the prior month that was revised higher than previously reported.
Economists had expected a 1.2 percent increase in orders after the previously reported 3.2 percent gain for January.
Companies may be pulling back on purchases of long-lasting products until the economy shows more signs of sustained recovery.
The Commerce Department reported Thursday that orders for durable goods fell 0.9 percent in February, following a 3.6 percent gain in the prior month that was revised higher than previously reported.
Economists had expected a 1.2 percent increase in orders after the previously reported 3.2 percent gain for January.
Companies may be pulling back on purchases of long-lasting products until the economy shows more signs of sustained recovery.
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