Orders of core capital goods (nondefense capital goods excluding aircraft) fell 1.3 percent in February compared with the previous month, partially the result of a 1.5 percent decline in machinery orders. Shipments of core capital goods increased a modest 0.5 percent in February over January. The weakness in core orders and shipments suggests that business equipment spending growth may be soft in the first quarter compared with the robust spending growth in the fourth quarter of 2013.
