Factory Orders Rise 0.3 Pct. in February
WASHINGTON (Reuters) - New orders at U.S. factories rose slightly in February, the government said on Wednesday, although demand rebounded by less than expected and the previous month's decline was even larger than first reported.
The Commerce Department said factory orders advanced 0.3 percent last month after falling a revised 0.9 percent in January. Wall Street had expected a 1.5 percent gain.Demand for durable goods -- big-ticket items meant to last three years or more -- rose 2.5 percent in February, buoyed by soaring demand for civil and defense aircraft. Stripping out transportation reduced the number to a 0.3 percent decline.
Non-durable goods orders, which make up a bit less than half of all factory orders, fell 2.0 percent after rising a revised 1.2 percent in January.
Factory inventories were up 0.5 percent in February, according to Commerce, the largest monthly increase since January 2001.
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