U.S. Factory Orders Rose 1.3% in February on Capital Goods |
| Bloomberg - Apr 3, 2012 |
Orders to U.S. factories climbed in February for the third month in the last four, boosted by demand for business equipment.
Bookings rose 1.3 percent after a revised 1.1 percent decline in January, figures from the Commerce Department showed today in Washington. The median of 60 economists’ projections in a Bloomberg News survey called for a 1.5 percent advance. Orders excluding transportation equipment increased by the most in five months.
Demand for new vehicles and business investment are sustaining production gains at American factories, which account for about 12 percent of the world’s largest economy. At the same time, slower growth in Europe and China show that sales overseas remain a risk.
“The manufacturing sector is the rock on which the recovery is being built and the base is as stable as it gets,” Joel Naroff, president of Naroff Economic Advisors Inc. in Holland, Pennsylvania, said before the report. “The economy has leaned on the manufacturing sector for much of the growth during the entire recovery. There appears to be no reason to believe that will change anytime soon.”
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- Posted: 2012-04-03 11:10:16
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