WASHINGTON - Durable goods orders increased 0.5% in February to $178.1 billion, the third consecutive monthly gain, the Commerce Department reported today.
Excluding transportation goods, durable goods rose 0.9% to $132.1 billion, the third increase in four months following a 0.6% decrease in January.
The increase in durable goods orders was led by a 4.7% gain in machinery orders, the largest increase in two months.
Economists expected durable goods orders to be up 0.6% in February and for orders excluding transportation goods to increase 0.5%, according to the median estimate from Thomson Reuters.
Durable goods rose 3.9% in January, revised higher from a 3.0% climb. Orders excluding transportation were unrevised at a 0.6% decrease in January.
Durable goods orders for nondefense capital goods excluding aircraft rose 1.1% in February after falling 3.9% in January.
Orders for motor vehicles and parts fell 1.9% and orders for electronic equipment fell 3.3%.
Total unfilled orders increased 0.4%, the largest gain since July 2008.
