Economic Buzz: US Durable Goods Orders Fall 2.2% In February

25 Mar 2022 , 08:18 AM

US durable goods orders slumped by 2.2 percent in February after jumping by 1.6 percent in January, the Commerce Department reported on Thursday. The much bigger than expected decrease in durable goods orders came as orders for transportation equipment plunged by 5.6 percent in February after surging by 3.2 percent in January. Orders for non-defense aircraft and parts led the way lower, plummeting by 30.4 percent in February after soaring by 10.9 percent in January. Excluding the steep drop in orders for transportation equipment, durable goods orders fell by 0.6 percent in February after climbing by 0.8 percent in January.

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