Economic Report: Durable-goods orders snap back with 3.1% gain as business investment surges

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Business investment in durable goods – stuff designed to last at least three years – rebounded in February after two straight declines.

The numbers:Durable-goods orders jumped 3.1% in February, largely reversing a big drop at the start of the year and posting the largest gain since last summer. Business investment also rebounded in a good sign for the U.S. economy.

Economists surveyed by MarketWatch had forecast a 1.8% increase in orders for durable goods — products designed to last at least three years.

Orders for passenger planes and autos both rose, but even after stripping out planes and cars, orders minus transportation climbed a solid 1.2%.

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