Durable Goods Orders Rise Third Straight Month
Washington, DC, March 25, 2010--Durable goods orders rose for the third straight month in February and inventories posted their biggest gain since December 2008, government data showed.
The Commerce Department said durable goods orders rose 0.5 percent after an upwardly revised 3.9 percent increase in January.
Analysts forecast orders rising 0.7 percent in February from January's previously reported 2.6 percent increase.
Durable goods orders are a leading indicator of manufacturing activity, which in turn provides a good measure for overall business health.
New durable goods orders excluding transportation rose 0.9 percent in February after falling 0.6 percent the previous month.
Non-defense capital goods orders excluding aircraft rebounded 1.1 percent last month after a 3.9 percent fall in January.