Durable goods orders in the US fell in February

The US Department of Commerce released data on durable goods orders for February.

Accordingly, orders for durable goods decreased by 1 percent compared to the previous month to $268.4 billion in February.

The said orders were expected to increase by 0.6 percent in this period.

Orders for durable goods decreased by 5 percent to $271 billion in January.

Orders for transportation equipment fell 2.8 percent in February. While orders excluding transportation did not change in the same period, orders excluding defense decreased by 0.5 percent.

Orders for durable consumer goods, which consist of products with a life span of at least 3 years, are important in terms of providing information on industrial production.