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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Razorbak who wrote (2455)	3/27/2001 9:06:02 AM
From: Razorbak	Read Replies (1) \| Respond to of 23153

CNNfn: "Durable Goods Orders Dip" February shows drop rather than expected hike; January revised to bigger fall March 27, 2001: 8:56 a.m. ET NEW YORK (CNNfn) - Durable goods orders fell in February and data for January orders was revised sharply lower, both further signs of the weakness in the nation's manufacturing sector, according to a government report released Tuesday. The Department of Commerce report said that orders for items expected to last at least three years -- such as autos, electronics and appliances -- fell 0.2 percent in February to a seasonally adjusted $199.20 billion. That was the lowest level since $197.1 billion in June 1999, and compared with a 0.5 percent increase economists' consensus compiled by Briefing.com. The January drop was revised to a 7.3 percent drop rather than the 6.5 percent drop originally reported. The decline was driven by a drop in orders in the transportation sector, such as planes and autos. Orders for durable goods other than transportation items increased 0.5 percent, although the January figure for those orders was also revised to a 1.6 percent drop rather than the 0.3 percent decline originally reported. The durable goods report comes amid a slowdown in consumer spending and confidence. The Conference Board was expected to release fresh consumer confidence data for March later Tuesday morning. The report comes a week after the Federal Reserve lowered interest rates for the third time this year in hopes of jumpstarting the slowing economy. Consumer confidence is closely watched by Fed Chairman Alan Greenspan, who spoke to business economists in Washington Tuesday. cnnfn.cnn.com