US consumer durables fell for the first time in five months in February, while corporate investment fell for the first time in a year, indicating that the US manufacturing sector continues to be plagued by supply chain problems. .
In particular, orders for durable consumer goods in the US fell 2.2% last month, according to government figures. Economists in a Wall Street Journal poll expected a smaller reduction of 1%.
The decline is mainly attributed to the passenger aircraft and automobile sectors, two volatile categories that fluctuate sharply from month to month.
The index of basic capital goods, which does not include transport and defense, also fell by 0.3%. This is the first decline of the index in the last 12 months.
Demand remains strong despite high inflation and the problems posed by the Russian invasion of Ukraine. Orders for durable consumer goods in the US have risen 10% over the past year.
The challenges, however, are growing. Russia’s war in Ukraine could exacerbate already major supply chain problems, as well as the new outbreak of the coronavirus pandemic in China. In the US, however, the Federal Reserve seems to be increasingly aggressive in raising interest rates in order to control inflationary pressures.
Economists predict that the US growth rate will slow down this year, although they predict that the US economy will continue to expand.
Source: Capital
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