United States manufactured durables sales increase 2.2pc in February
2012 04 02
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MANUFACTURED durable goods growth in the United States increased 2.2 per cent to US$211.8 billion in February due to rising demand for cars, computers and capital equipment, making the fourth month of increases in the last five.
"There exists pent-up demand for consumer durable goods, particularly for motor vehicles, and firms are profitable and need to spend more for both traditional and high-tech business equipment," said Daniel Meckstroth, chief economist of the Manufacturers Alliance for Productivity and Innovation chief economist.
Inventories increased for the 26th straight month up 0.4 per cent to $373.3 billion with storable durables the highest in 20 years when the government began collating inventory data. February sales was an improvement on January, however, when sales slowed four per cent.
In the month of February the shipment of durable goods fell for this first time in two months by 0.4 per cent to $206.6 billion with transportation of equipment down the most at 2.5 per cent year-over-year to $49.2 billion down.
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