Reuters: Economic News: Durable goods rise tepidly in February

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Durable goods rise tepidly in February Mar 28th 2012, 13:20 Tweet Share this Email Print Related News Instant View 4: Durable goods orders rise 2.2 percent in February 8:51am EDT Analysis & Opinion Sari-clad cheerleaders add Indian touch to IPL franchise No, a nation's geography is not its destiny Shoppers look at washers and dryers at a Home Depot store in New York, July 29, 2010. Credit: Reuters/Shannon Stapleton WASHINGTON | Wed Mar 28, 2012 8:51am EDT WASHINGTON (Reuters) - New orders for manufactured goods rose less than expected in February and a gauge of future business investment also fell short of forecasts, Commerce Department data showed on Wednesday. Durable goods orders rose 2.2 percent last month, only partially reversing January's revised 3.6 percent decline. Economists had forecast orders rising 3.0 percent last month. Durable goods range from toasters to big-ticket items like aircraft which are meant to last three years and more. Excluding transportation, orders climbed 1.6 percent. Economists had expected that reading to increase 1.7 percent. Machinery orders increased 5.7 percent. Non-defense capital goods orders excluding aircraft, a closely watched proxy for future business investment, edged 1.2 percent higher, missing analysts' expectations of a 2.0 percent gain. A 3.9 percent increase in bookings for transportation equipment - including a 6.0 percent increase in civilian aircraft orders - drove the overall increase in durable goods orders. Boeing received 237 orders for aircraft during the month, according to the plane maker's website, up from 150 in January. Orders for motor vehicles edged up 1.6 percent. Shipments of non-defense capital goods orders excluding aircraft, which go into the calculation of gross domestic product, rose 1.4 percent in February. (Reporting by Jason Lange; Editing by Andrea Ricci) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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