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Orders for Durable Goods in U.S. Increase More Than Forecast
Orders for U.S. durable goods climbed more than forecast in February, propelled by automobiles and a rebound in commercial aircraft. Bookings for goods meant to last at least three years rose 5.7 percent, the most since September, after a 3.8 percent drop the prior month, a Commerce Department report showed today in Washington. The median forecast of 80 economists surveyed by Bloomberg called for a 3.9 percent advance. Figures on capital goods pointed to a pickup in business spending this quarter. Gains in auto and home purchases may keep benefiting manufacturers from 3M Co. (MMM) to United Technologies Corp. (UTX), ... (full story)
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