US Durable Goods Orders Rise for First Time in Three Months
- Bookings advanced 1.4% in February after steep January decline
- Core capital goods orders improved, while shipments decreased
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New orders placed with US factories for durable goods rose in February for the first time in three months, suggesting firms are somewhat optimistic about the direction of the economy.
Bookings for all durable goods — items meant to last at least three years — increased 1.4%, following a downwardly revised 6.9% drop in January, Commerce Department figures showed Tuesday. The median estimate in a Bloomberg survey of economists called for a 1% increase.