Factory Orders Fall For First Time in 10 Months
Orders for manufactured goods fell by half a percentage point in February, the Commerce Department said Monday.
Analysts had expected a decline of 0.6 percent, according to Econoday.
Orders rose in each of the nine months prior to February.
Durable-goods orders dropped by 2.1 percent in February, a bit better than the initial estimate of 2.2 percent. Durable goods are those expected to last three years or more.
Orders for household appliances were up 3.6 percent compared with January. Year-to-date, however, household appliance orders are down one-tenth of a percentage point before adjusting for inflation.
Orders for motor vehicles were down 0.6 percent compared with January. Year-to-date orders are up 7.6 percent.
Orders for nondurable goods were up 1.2 percent.
Nondefense capital goods excluding aircraft, which is considered a proxy for business investment, fell a revised 0.2 percent in February, up slightly from the prior reading of a 0.3 percent decline.
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