Orders for U.S. durable goods drop in February

In an indication that the slowing global economy could be hitting U.S. manufacturers, orders for durable goods took an unexpected turn lower in February.

Orders for goods meant to last at least three years fell 1.4 percent, after a 2.0 percent rise in January, the Commerce Department reported on Wednesday. Excluding transportation, new orders fell 0.4 percent.

"The numbers were disappointing, and not just the headline number, so there are not a lot of positives to take from it," Gus Faucher, senior economist at PNC Financial Services, told CBS MoneyWatch. "That being said, fundamentals for business investment look pretty good. I do think we will see better numbers in March, and certainly in the second quarter."

Demand for U.S.-made goods could be weakening as a stronger dollar makes American products more costly overseas, where economies are having trouble gaining traction.

The stronger dollar and a harsh winter in parts of the country could be part of the decline, and "weaker growth overseas weighs on exports," Faucher said.

U.S. economic data has been mixed, with the labor market one of the few consistently brights spots in recent months. On Tuesday, the government released a positive report on new-home sales, with economists saying the data could signal a turnaround for the troubled housing market.