U.S. Equipment Orders Fell More Than Forecast in February

U.S. factories received fewer orders for business equipment than forecast in February, just before the coronavirus-related demand shock that will likely lead a massive pullback in corporate investment.

Core capital goods orders, which exclude aircraft and military hardware, fell 0.8% after a revised 1% advance in January, Commerce Department data showed Wednesday. The median forecast in a Bloomberg survey of economist had called for a 0.4% decline. The broader measure of bookings for all durables, or goods meant to last at least three years, increased 1.2%, reflecting a pickup in motor vehicle and electrical equipment orders.