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U.S. Durable Goods Orders Unexpectedly Slump 1.0% In February
(RTTNews) - Reflecting a continued slump in orders for transportation equipment, the Commerce Department released a report on Friday showing an unexpected decrease in new orders for U.S. manufactured durable goods in the month of February.
The Commerce Department said durable goods orders slid by 1.0 percent in February after plummeting by a revised 5.0 percent in January.
Economists had expected durable goods orders to increase by 0.6 percent compared to the 4.5 percent plunge that had been reported for the previous month.
Excluding the steep drop in orders for transportation equipment, durable goods orders were unchanged in February after rising by 0.4 percent in January. Ex-transportation orders were expected to inch up by 0.2 percent.
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