Orders for U.S. manufactured durable goods rebounded in February after showing a notable drop in January, according to a report released by the Commerce Department on Wednesday, although orders rose by somewhat less than anticipated.
The report showed that durable goods orders rose by 2.2 percent in February following a revised 3.6 percent decrease in January. Economists had expected orders to increase by 2.9 percent compared to the 3.7 percent drop that had been reported for the previous month.
Excluding a 3.9 percent increase in orders for transportation equipment, durable goods orders increased by a more modest 1.6 percent in February compared to a 3.0 percent decrease in January. The increase in ex-transportation orders came in slightly above economist estimates for a 1.5 percent increase.
by RTT Staff Writer
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