3/24, 1:30 PM (Source: TeleTrader)
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US durable goods orders down 1% in February

The amount of manufacturable durable goods orders in the United States declined by more than expected 1% or $2.6 billion in February compared to the previous month to land at $268.4 billion, according to a report released by the Census Bureau on Friday.

The new orders were down three of the last four months. Excluding transportation, new orders were virtually unchanged, while excluding defense, new orders dropped by 0.5%. On the other hand, transportation equipment led the decline by decreasing $2.6 billion or 2.8% to $89.4 billion.

The data for January was revised, and is now seen dropping 5% to $271 billion.

Baha Breaking News (BBN) / ND