Orders for durable goods declined 1.7% in February, as business demand for machinery and capital goods unexpectedly fell. Economists were expecting a rise in orders of 0.5% for the month. It is the second straight monthly decline, a sign that domestic demand is weakening at a faster rate than the growth of exports.
Orders for capital goods fell 2.6%, while orders for machinery dropped by a record 13.3%. Excluding machinery orders, total orders rose 0.3% for February. Civilian aircraft orders and computer orders both had gains for the month, rising 5.4% and 10%, respectively.
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