Feb. Factory Orders Jump 1.6%; Ex-Transportation Up 0.7%

New orders for manufactured goods surged 1.6% in February, after dropping 1.0% in January, the Commerce Department reported Wednesday.

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The January decrease was revised to 1.0% from the 0.7% first reported.

Economists polled by Thomson Reuters expected a 1.2% increase in February orders.

Excluding transportation, new orders increased 0.7% in February, after falling a revised 0.1%, originally reported as a 0.2% climb, the previous month. Excluding defense, orders grew 1.3%, after slipping 1.3% in January.

Durable goods orders rose 2.2% after a 1.4% decline in January, while nondurable goods orders rose 1.0% after a 0.7% slide in January.


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