U.S. business investment spending plans fell for a sixth straight month in February, likely weighed down by a strong dollar and weak global demand, which could lead economists to further lower their first-quarter growth estimates. The Commerce Department's durable goods report on Wednesday was the latest data to suggest economic growth braked sharply early in the year, in part due to bad weather and a now-settled labor dispute at the country's busy West Coast ports. The Commerce Department said non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, dropped 1.4 percent last month after a revised 0.1 percent dip in January. The so-called core capital goods orders were previously reported to have increased 0.5 percent in January.
via Business News http://ift.tt/19PrBxu
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