A jump in commercial aircraft demand pushed orders for U.S. durable goods up sharply in February, the government reported Tuesday.The gain offset a sharp drop in orders that signal business investment plans, though economists viewed the decline as a temporary setback, noting that the broader trend in business investment remains favorable and should add to economic growth in the January-March quarter.The Commerce Department said overall orders for durable goods-expensive manufactured items expected to last at least three years-surged 5.7 percent in February, the biggest monthly increase in five months.The gain was driven by a rebound in volatile commercial-aircraft orders, which rose 95.3 percent following a 24 percent drop in January. Orders for motor vehicles and parts rose 3.8 percent, the best performance since July. Excluding transportation, durable-goods orders fell 0.5 percent.Orders for core capital goods-seen as a gauge of business investment-fell 2.7 percent in February. Demand weakened for machinery and communications equipment, but rose for computers. Still, the decline followed a 6.7 percent surge in January, which was the biggest one-month gain in almost three years. Before the February decline, the category had risen in three of the previous four months.Many economists were expecting a decline in capital-goods orders after January’s impressive gain. The broader trend has been positive, even with uncertainty about government tax and spending policies, they say.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor