US Factory Orders Remained Unchanged for Second Month
U.S. factory orders held steady in February as weak aircraft demand offset gains elsewhere. Core capital goods rose 0.7 percent showing steady business spending.
New orders for manufactured goods in the United States remained unchanged in February, marking the second consecutive month of flat growth. According to data released by the Commerce Department's Census Bureau on Friday, the steady performance surpassed economist projections, which had anticipated a 0.2% decline. On a year-on-year basis, factory orders saw an increase of 3.7%. The Census Bureau noted it is still processing data following delays caused by a previous government shutdown.
The manufacturing sector, representing approximately 10.1% of the economy, has shown signs of recovery despite previous pressures from sweeping trade tariffs. However, the ongoing conflict involving Israel and Iran has introduced new volatility. Surging energy costs, with prices for West Texas Oil and Brent Crude Oil rising by more than 30%, threaten to stifle the industrial sector's progress.
