Durable Goods Orders Fall Sharply

Orders declined last month for the first time after nine consecutive monthly gains.

This Oct. 29, 2020 file photo, a passer-by walks past stoves on display at a Home Depot location, in Boston. Orders to U.S. factories for big-ticket goods shot up 3.4% in January 2021, pulled up by surge in orders for civilian aircraft. A category that tracks business investment posted a more modest gain, the Commerce Department reported Thursday, Feb. 24.
This Oct. 29, 2020 file photo, a passer-by walks past stoves on display at a Home Depot location, in Boston. Orders to U.S. factories for big-ticket goods shot up 3.4% in January 2021, pulled up by surge in orders for civilian aircraft. A category that tracks business investment posted a more modest gain, the Commerce Department reported Thursday, Feb. 24.
AP Photo/Steven Senne, File

WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods fell a sharp 1.1% in February with demand in a key sector that tracks business investment also dropping.

Orders for durable goods declined last month for the first time after nine consecutive monthly gains including a sizable 3.5% rise in January, the Commerce Department reported Wednesday.

The drop was larger than expected but likely was adversely effected by the severe winter storms that hit much of the country last month as well as continued supply-chain problems.

The category that covers business investment dropped 0.8% in February following solid gains of 0.6% in January and 1.5% in December.

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