New factory orders for manufactured goods increased 0.6% in February, while orders in January were revised higher to the largest monthly increase in almost three years, the Commerce Department reported yesterday.

Orders excluding transportation increased 0.7%, the largest increase in two months and the seventh consecutive gain.

January factory orders increased 2.5%, revised up from 1.7% initially reported, the largest increase since March 2007. Orders excluding transportation in January were revised to a 0.5% gain from 0.1%.

Economists expected factory orders to increase 0.5% in February, according to the median estimate from Thomson Reuters.

Durable goods orders increased 0.9% and durable goods excluding transportation increased 1.4%.

Nonmilitary capital goods increased 6.0%, which was the largest gain in seven months.

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