February Durable Goods Sink for First Time in Five Months

New orders for US manufactured durable goods fell 2.2%, or $6.0 billion, in February, snapping a four-month rally, according to the Commerce Department.

Orders at domestic factories for long-lasting goods fell more than expected last month, while business investment fell for the first time in a year. February’s outcome suggests high inflation and ongoing supply shortages are restraining an otherwise strong economic recovery.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.