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Latest Glimmer of Economic Hope: Rise in Factory Orders
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| Contributor | ArmyDem |
| Last Edited | ArmyDem Mar 25, 2009 12:43pm |
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| Category | News |
| Media | Newspaper - New York Times |
| News Date | Wednesday, March 25, 2009 06:00:00 PM UTC0:0 |
| Description | By JACK HEALY
Published: March 25, 2009
In a glimmer of surprisingly upbeat economic data, manufacturing orders for goods like metals, machines and military equipment rose last month for the first time after six months of declines, the government reported on Wednesday.
The Commerce Department reported that orders for durable goods rose 3.4 percent in February following a downwardly revised 7.3 percent drop in January. Orders for machinery, transportation equipment and computers and electronics rose.
The monthly gain was better than economists’ expectations of a 2.5 percent decline, and represented the latest in a series of less-than-terrible reports that have offered a break from months of relentlessly bad economic news.
On Monday, an industry group reported that sales of previously owned homes rose 5 percent in February, and the government reported on Tuesday that its barometer of home prices rose in January after 10 months of declines. Earlier this month, the government reported that consumer prices were stabilizing slightly, cooling fears of deflation and that retail sales in February had fallen by less than expectations. |
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