In February, new orders for core capital goods (nondefense capital goods excluding aircraft) fell 1.4 percent compared with January. The February decrease marked the sixth consecutive month that new orders have fallen. Shipments rose 0.2 percent compared with the previous month. The weak new orders data continue to suggest sluggish business investment in equipment in the near term. The ongoing cutbacks in the oil and gas industry and severe winter weather may have partially played a part in the recent weak data. Year-over-year growth rates for both orders and shipments decreased in February compared with the previous month.
