U.S. durable-goods orders slump in February
The numbers: Orders for durable or long-lasting goods fell in February for the first time in four months and business investment continued to soften, reflecting a slower U.S. economy early in the new year.
What happened: Orders plunged 31% for commercial aircraft, a category that often sees large swings. The decline occurred before the controversy over a new Boeing jet after a pair of deadly crashes.Orders rose for electrical equipment, appliances and primary metals used in an array of products. The originally reported 0.3% increase in durable-goods orders in January was revised down to 0.1%. Durable goods are basically any product for consumers or businesses that are supposed to last at least three years.Big picture: The economy has lagged early in the new year.
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