New orders for US-manufactured capital goods rose unexpectedly in February, but the previous month’s data was revised sharply lower, suggesting that corporate equipment spending may struggle to recover in the first quarter.
Orders for non-defense capital goods, excluding aircraft, a closely monitored indicator of corporate spending plans, rose 0.2 percent last month, the Commerce Department said on Friday.
January data was revised downwards to show a 0.3% increase, instead of the 0.8% previously reported.
Economists polled by Reuters had expected unchanged orders in February.
Source: Terra
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