New orders for key U.S.-made capital goods slipped in February and shipments wer...
WASHINGTON - New orders for key U.S.-made capital goods slipped in February and shipments were unchanged, but data for January was revised slightly higher, which could support views that the manufacturing sector was stabilizing.
Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, fell 0.1 percent, pulled down by declining demand for machinery and computers and electronic products. Shipments of core capital goods were unchanged in February after an upwardly revised 1.0 percent rise in the prior month. Core capital goods shipments are used to calculate equipment spending in the government’s gross domestic product measurement.
The strong ISM survey, together with a mixed February retail sales report, solid construction spending and January business inventory data, tempered expectations of a sharp slowdown in economic growth in the first quarter.
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