Durable-goods orders fell in February

The U.S. Commerce Department reported today that durable goods orders dropped 1.7 percent in February for the second straight decline. Analysts had expected a slight rebound following the 4.7 percent decline in January.

Among the areas showing a decline was manufacturing equipment, which fell 13.3 percent. Orders for motor vehicles fell by 2.7 percent in February. However, orders for commercial aircraft rose 5.4 percent after a 30.2 percent drop in January.