New orders for key U.S.-manufactured capital goods unexpectedly rose in February, but data for the prior month was revised sharply down, suggesting that business spending on equipment could be struggling to rebound in the first quarter. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 0.2% last month, the Commerce Department said on Friday. Data for January was revised lower to show these so-called core capital goods orders rising 0.3% instead of 0.8% as previously reported. (Source: Reuters)
Looking ahead to next week: U.S. consumer confidence data for March will be released on Tuesday, followed by Wednesday’s release of figures for pending U.S. home sales. On Thursday, figures for initial and continuing jobless claims will be released, and on Friday consumer sentiment data for March will be released. (Source: MarketWatch.com)
