New orders for long-lasting U.S. manufactured goods fell in February as the sector continues to struggle with the lingering effects of a robust dollar and lower oil prices.
In a relatively quiet week for U.S. economic data, the few economic reports that are scheduled for release are all backloaded toward the end of the week.
New orders for long-lasting U.S. manufactured goods in January rose by the most in 10 months as demand picked up across the board, offering a ray of hope for the downtrodden manufacturing sector.
The dollar hit a one-week low against the euro on Thursday as a plunge in U.S. durable goods orders supported the view of a U.S. economic slowdown on softer global demand.
A gauge of U.S. business investment spending plans rose in May, offering a tentative sign of stabilization in the manufacturing sector after activity started weakening in the late summer of 2014.
