The Commerce Department says a drop in spending on transportation and business equipment contributed to a 4 percent decrease in manufactured durable goods in January.
The decrease follows three consecutive monthly increases, including a 3.2 percent increase in December.
The AP reports:
Originally published on Mon February 27, 2012 12:14 pm
The rapidly rising price of gasoline has not stalled the economic recovery — at least not yet. And one reason for that may be found in fields of daffodils.
This year's unusually warm winter has held down heating costs, helping consumers spend less on their monthly utility bills.
"Weather plays a big role" in determining what's left in your checking account as winter wraps up, said Jonathan Cogan, a spokesman for the Energy Information Administration.
There were 351,000 first-time claims for unemployment insurance last week, unchanged from the four-year-low level of the week before, the Employment and Training Administration just reported.
It adds that "the 4-week moving average was 359,000, a decrease of 7,000 from the previous week's revised average of 366,000."