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US durable goods orders unexpectedly down in Feb

by ChemOrbis Editorial Team -
  • 25/03/2015 (16:14)
According to a report released by the US Commerce Department, the country’s durable goods orders unexpectedly declined in February. Orders for durable goods decreased 1.4% in February after increasing by a downwardly revised 2% in the previous month. Economists’ initial expectations called for an increase of 0.2% in February, according to a survey by Bloomberg

The unexpected decrease was attributed to a slow recovery in global economies and a stronger dollar, which makes US exports less competitive.

The report also showed that orders for non-defense capital goods excluding aircraft, which is an indicator of future business investment, declined 1.4% in February, posting the sixth straight monthly loss.
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