US durable goods orders drop 1.1% in February: govt

Washington (AFP) – US durable goods orders fell 1.1 percent last month, government data said on Wednesday, the first month-on-month slump since the worst of the pandemic’s business disruptions in April 2020. The worse-than-expected result was caused by a decline in transportation orders, and ended a streak of nine consecutive monthly increases in the manufactured goods sector, the Commerce Department said. Analysts blamed bad winter weather for the decline to $254.0 billion in orders, with many sectors seeing decreases last month after January’s upwardly revised overall growth of 3.5 percent. …

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