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Demand for big-ticket items improved in February, according to a government report Wednesday that still came in weaker than expected and raised concerns about a slowing U.S. economy.
Orders for non-defense capital goods other than aircraft, watched by economists as a barometer of business spending, fell 1.2 percent, after a revised 7.4 percent drop in January that now stands as the fifth biggest decline in record. The original reading for January was a 6 percent drop.
Much of the gain in overall orders can be attributed to nondefense aircraft and parts, a volatile part of the report that jumped 88 percent compared to January orders. Excluding that sector, overall orders would have been down 0.8 percent.
CNN
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