February orders for durable goods exceed expectations

03/26/2013 | Bloomberg Businessweek

Orders for U.S. durable goods in February were up 5.7%, the most since September, according to today's Commerce Department report. "The broader economy is continuing to move forward," said Michael Carey, chief economist for North America at Credit Agricole CIB. "The second half looks like it’s going to be stronger, and businesses are poised for that." However, for the first time in six months, demand for transportation equipment dipped 0.5%. Shipments of durable goods orders rose 1.9%.

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