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Spending on durable goods declines 4 percent

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High Five
Tuesday, February 28, 2012

As tax break expires, U.S. businesses reduce orders for machinery and equipment.

A big reason for the decline was demand for so-called core capital goods, which are viewed as a good measure of business investment plans, tumbled 4.5 percent. That's the biggest drop in a year.

Economists attributed much of the decline in January to the end of the tax credit. They noted that demand for core capital goods hit an all-time high in December as most companies raced to qualify for the tax credit. Many said the underlying trend remained strong and predicted further business investment in the coming months.

Read more at Oregonlive.

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