US Durable Goods Gain for 3rd Straight Month

Orders for durable goods climbed for the third straight month in February in what officials hope is further evidence of a recovery in the US. Inventories and backlogged orders also rose suggesting that retailers are preparing for increased sales.

“Businesses are ready to invest not just in inventories, but in equipment as well,” said Lindsey Piegza, an economist at FTN Financial in New York, who accurately anticipated the gain in orders. “These will be some of the key drivers of growth going forward.”

Source: Bloomberg

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