US durable goods orders fall but job market heals

first_img alison.lock whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Orders for long-lasting US manufactured goods fell in February as companies scaled back investment plans for a second month in a row.Separate data has shown the labour market recovery becoming more entrenched, with new claims for jobless benefits falling last week and the four-week moving average dropping to it lowest level in more than two-and-a-half years.Economists cautioned against placing too much weight on the weak manufacturing report, saying the data was in stark contrast to other upbeat surveys on factory activity.“Industrial production of business equipment continues to rise and the industrial surveys continue to look great, including for surveys of (capital) spending plans,” wrote economists at Goldman Sachs in New York, who noted the data series was particularly volatile.Non-defence capital goods orders excluding aircraft, a closely watched proxy for business spending, fell 1.3 per cent in February after a six per cent drop the prior month, the Commerce Department said.Economists had expected the business spending gauge to rise 4.5 per cent last month.The weakness in business demand and a big drop in defense aircraft orders helped pull down overall orders for so-called durable goods, items meant to last three years or more, by 0.9 per cent. They had risen 3.6 per cent in January.A second report from the Labor Department showed initial claims for state unemployment benefits slipped 5,000 to a seasonally adjusted 382,000, a touch below economists’ expectations for a fall to 383,000.The four-week moving average of new claims – a better measure of underlying trends – dropped 1,500 to 385,250, the lowest since mid-July 2008.It was the fourth straight week the closely watched average held below the 400,000 level that economists associate with steady job growth.Until recently the economy’s job production had been dismal, but in February employers hired 192,000 new workers, the most in nine months. US durable goods orders fall but job market heals Sharecenter_img whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Thursday 24 March 2011 1:57 pm Show Comments ▼ Tags: NULLlast_img read more