Durable goods orders fall for 3rd time in 4 months in February

Washington

ORDERS for durable goods fell in February for the third time in four months, reflecting a broad-based slowdown that underscores lingering softness in US capital investment.

Bookings for goods and materials meant to last at least three years declined 2.8 per cent after a 4.2 per cent gain that was less than previously reported, Commerce Department data showed on Thursday. Bookings for non-military capital goods excluding aircraft dropped 1.8 per cent, more than estimated.