WASHINGTON -- New orders for long-lasting U.S. manufactured goods unexpectedly rose in February, but are set to decline as strict measures to contain the coronavirus pandemic sap demand and push the economy into recession.
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Orders for durable goods, items ranging from toasters to aircraft that are meant to last three years or more, accelerated 1.2% last month. Data for January was revised up to show durable goods orders gaining 0.1% instead of slipping 0.2% as previously reported. Economists polled by Reuters had forecast durable goods orders dropping 0.8% in February.