Weak Feb business spending data points to Q1 slowdown

Washington

US business investment spending plans fell for a sixth straight month in February, likely to have been weighed down by a strong dollar and weak global demand, which could lead economists to further lower their first-quarter growth estimates.

The Commerce Department's durable goods report on Wednesday was the latest data to suggest that economic growth braked sharply early in the year, in part due to bad weather and a now-settled labour dispute at the country's busy West Coast ports.

While economists largely view the slowdown in activity as temporary, softer growth could prompt the Federal Reserve to delay raising interest rates until later in the y…