MW: U.S. factory orders increase first time in 7 months
Orders for U.S.-made factory goods increased 1.8% in February, the first gain after six months of large declines, the Commerce Department reported Thursday. Excluding transportation goods, orders rose 1.6%. Excluding the 36% increase in defense goods, orders rose 0.9%. Orders for nondefense, nonaircraft capital equipment - the kinds of goods businesses invest in to expand or update their productive capacity - jumped 7.1%, revised up from a 6.6% gain reported last week. Orders for durable goods rose an upwardly revised 3.5% in February, also the first gain in seven months. Orders for nondurable goods rose 0.3% in February, led by big increases in chemicals and plastics.
