Durable goods orders slip in February
Industrial Distribution staff -- Industrial Distribution, 3/26/2008 5:43:00 AM
New orders for manufactured durable goods slipped 1.7 percent to $210.6 billion in February, according to the U.S. Census Bureau.The $3.6 billion decrease is the second consecutive monthly decrease, after January’s revised 4.7 percent decline. Excluding transportation, new orders fell 2.6 percent; excluding defense, new orders fell 1.6 percent.
And CNNMoney.com and Bloomberg both report factory orders for machinery posted a 13 percent decline—the largest drop on record.
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