25 Mar 2015
US durable goods orders fall more than expected in February
FXStreet (Mumbai) - The data reported by the US commerce department showed today that orders for durable goods in February dropped unexpectedly by 1.2% after a 2% gain in January. The data missed the expectation of a 0.4% gain.
Orders for non-military capital goods excluding aircraft, an indicator of future business investment, dropped 1.4%, its sixth consecutive decline. These orders were estimated to rise 0.3%. Nonmilitary capital goods excluding aircraft used to calculate GDP increased 0.2%, after falling a revised 0.4% in January. Business equipment spending climbed 0.9% last quarter, the weakest since January-March 2014.
A rebound in business investment (Nonmilitary capital goods excluding aircraft) is slightly positive, and may provide lift to the economy. Other than this, the other details are disappointing.
Orders for non-military capital goods excluding aircraft, an indicator of future business investment, dropped 1.4%, its sixth consecutive decline. These orders were estimated to rise 0.3%. Nonmilitary capital goods excluding aircraft used to calculate GDP increased 0.2%, after falling a revised 0.4% in January. Business equipment spending climbed 0.9% last quarter, the weakest since January-March 2014.
A rebound in business investment (Nonmilitary capital goods excluding aircraft) is slightly positive, and may provide lift to the economy. Other than this, the other details are disappointing.