This inventory build may be one reason durable goods orders have dropped 4 of the last 5 months (from the WSJ)
"It's looking like capital expenditures aren't going to be able to offset housing and autos with respect to investment," says Joseph Brusuelas, chief U.S. economist for IDEAglobal, an economic-consulting firm in New York.
Economists monitor new orders for nondefense capital goods excluding aircraft because it gives a clearer picture of how businesses view future economic conditions. In addition to reporting a decline for February, the government also revised January's number to a decline of 7.4% from last month's estimate of a 6.0% decline.
Food for thought...
