The Commerce Department says orders for core capital goods declined 2.7 per cent in February. Demand weakened for machinery and communications equipment. The decline followed a 6.7 per cent surge in January, which was the biggest one-month gain in nearly three years.
Overall orders for durable goods surged 5.7 per cent in February, the biggest increase in five months. The increase was driven by a rebound in the volatile commercial aircraft category.
Durable goods are products expected to last at least three years. Orders can fluctuate sharply from month to month.