Jobless claims rise to 324,000 in latest week from 321,000 in prior week; durables orders up 0.3% in February


fonte: cnnfn

Durables orders disappoint

Increase in February below expectations; aircraft orders can't offset weak demand for other goods.

March 24, 2005: 8:33 AM EST

WASHINGTON (Reuters) - New orders for long-lasting U.S.-made goods edged up an unexpectedly weak 0.3 percent in February as declining demand for a broad array of items was offset by strong aircraft orders, the government said Thursday.

Excluding the volatile transportation category, orders for durable goods -- pricey manufactured items meant to last three years or more -- slipped 0.2 percent, the Commerce Department said.

The report offered a disappointing signal on the factory sector and business spending plans. Wall Street economists had expected durable goods orders to climb 1 percent overall and 0.5 percent excluding transportation.
      

Civilian aircraft orders shot up 32.1 percent last month, partly reversing a big January drop, and defense aircraft orders gained 11.3 percent. Economists had looked for a strong non-defense figure after Ryanair announced an order for planes from Boeing Co. valued at more than $4 billion.

The report suggested businesses curtailed spending plans last month as orders for non-defense capital goods, excluding aircraft, fell 2.1 percent after a healthy 4.4 percent January gain.

Demand for machinery dropped 1.1 percent, orders for fabricated metal products declined 1 percent and communications equipment orders slid 1.2 percent.

Orders for primary metals, however, rose 0.6 percent and orders for computers gained 2.1 percent, reversing a January drop.

The report also showed a 1.6 percent decline in shipments of durable goods in February, which could lead economists to scale back forecasts of first-quarter economic growth.