Durable Goods Orders Gain 2.2 Percent in February

It seems Bernanke is the only one who is still satisfied with US economy after series of positive economic indicators. After consumer confidence data, further to add this week is durable goods orders which increased 2.2 percent in the month of February indicating improvement and strength in US industries.

Though the economist were expecting the durable goods orders to increase by seasonally adjusted figure of 2.9 percent but still they were happy with the current figure. According to the most economists the consistent increase in durable goods data for five months shows that economy is improving at a stable pace.

Durable goods are categorized as heavy and bulky products designed in last three years such as trains, computers and furniture. If we look at the data of last 12 months the durable goods orders have increased by 13.5 percent. Further in the month of February, major contribution in durable goods data was by transportation and defense sector.

In defense, booking for items such jets increased by 6 percent while bookings for commercial aircrafts, heavy machinery, computers, autos and primary metals gained by 5.7 percent, 2.7 percent, 1.6 percent and 1.3 percent respectively. On the other hand, electrical equipment and appliances was the only category which reported the decrease of 2.5 percent in the data.


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