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New Orders for Durable Goods Dropped 0.9 percent in February

New orders for manufactured durable goods dropped by 0.9 percent in February, the Census Bureau reports. The value of new orders declined by $1.9 billion to $200 billion. Durable goods orders had risen by 3.6 percent in January.

The machinery sector saw the largest drop, of 4.2 percent, or $1.2 billion, for a total value of $26.6 billion. But machinery also had the largest increase in shipments in February among manufacturing sectors, rising 2.6 percent to $26.1 billion.

Inventories rose by 0.9 percent, or $2.9 billion, to $328.3 billion. Transportation equipment had the largest inventory increase among manufacturing sectors, rising 0.9 percent, or $0.8 billion, to $87.8 billion.

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