Orders for U.S. durable goods unexpectedly showed a notable decrease in the month of February, according to a report released by the Commerce Department on Thursday, with the decrease due in large part to a steep drop in orders for machinery.
The report showed that durable goods orders fell by 0.9 percent in February following an upwardly revised 3.6 percent increase in January. Economists had expected orders to increase by 1.5 percent compared to the 3.2 percent increase that had been reported for the previous month.
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