Factories in U.S. Feel Pain of Rising Dollar, Slump in Oil
U.S. February Durable Orders Fall 1.4%
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Orders for American-made durable goods unexpectedly dropped in February as manufacturers absorbed the damage inflicted by a rising dollar and slumping energy production.
Bookings for goods meant to last at least three years declined 1.4 percent after a 2 percent gain in January that was smaller than previously estimated, data from the Commerce Department showed Wednesday in Washington. The median forecast of 81 economists surveyed by Bloomberg estimated durable goods orders would rise 0.2 percent.