Washington, DC, United States (4E) – Aircraft orders climbed in February, which offset a slowdown in business investment of durable goods, according to the Commerce Department report released on Wednesday.
On a seasonally adjusted basis, orders for long-lasting manufactured goods like vehicles and appliances built to last more than three years, jumped 2.2 percent in February from the previous month. The figure is the biggest gain to a key gauge of manufacturing since November and higher than economists’ forecasts of 0.8 percent gain.
Durable-goods orders, which exclude the volatile transportation segment, gained only 0.2 percent.
Nondefense capital goods excluding aircraft, a measure of business investment, fell 1.3 percent in February and a reversal of the gains in January. The figure was relatively unchanged in January and February, compared with the same period last year.
The overall figure got a boost from new orders for civilian and defense aircraft and parts, although swings in those categories lead to volatility from month to month. Overall demand for manufactured goods was in line with the Federal Reserve’s report last week.