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Orders for Durable Goods in U.S. Increased 2.2% in February

Bloomberg (03/28/12) Timothy Homan

Orders for long-lasting U.S. goods climbed 2.2% in February amid strong demand for a broad variety of commercial and military-related products, the U.S. Commerce Department reported today. It was the fourth increase in five months. Economists forecast a 3% gain, according to the median forecast in a Bloomberg News survey.

Corporate equipment upgrades and consumer purchases of new cars are bolstering production, prompting factories to hire and keeping the industry a source of strength for the expansion. Nonetheless, higher fuel costs and slowdowns in Europe and China may limit the pace of manufacturing this year.