Orders for US durable goods increase more than forecast

Bloomberg

Orders for US durable goods increased more than forecast in February, a sign companies are confident about the outlook for the economy.
Bookings for goods meant to last at least three years rose 1.7 percent after a 2.3 percent advance the prior month that was larger than previously estimated, Commerce Department data showed. The median forecast of economists surveyed by Bloomberg called for a 1.4 percent increase.
A sixth straight gain in orders for durable goods minus transportation equipment underscores rising demand that will help to broaden economic growth. Business has the potential of increasing even more should Washington lawmakers succeed in reducing corporate taxes and regulations.
Economists’ estimates for durable orders ranged from a drop of 0.7 percent to a gain of 3.5 percent. The prior month’s advance was revised from a
previously reported 2 percent. Excluding transportation equipment demand, which is often volatile, orders increased 0.4 percent after a 0.2 percent gain.
The weaker part of the report was in the figure measuring future business investment in items like computers, engines and communications gear.