Durable-goods orders jumped 3.1% in February, largely reversing a big drop at the start of the year and posting the biggest increase since last summer. Business investment also rebounded in a good sign for the U.S. economy.
Economists surveyed by MarketWatch had forecast a 1.8% increase in orders for durable goods — products designed to last at least three years.
Orders for passenger planes and autos both rose, but even after stripping out planes and cars, orders minus transportation climbed a solid 1.2%. Transportation often exaggerate the ups and downs in durable-goods orders because of lumpy demand.
A closely watched category of business investment, known as core orders, also advanced 1.8% to end a two-month losing streak. That’s the largest increase since the early fall.
Source : Market Watch