FILE - In this Thursday, Jan. 16, 2014, file photo, a woman walks through a display of refrigerators at a Lowe's store in Cranberry Township, Pa. The Commerce Department releases durable goods for February on Wednesday, March 26, 2014. (AP Photo/Gene J. Puskar)
March 26, 2014 - 5:35 AM
WASHINGTON - Orders to U.S. factories for long-lasting manufactured goods rose in February by the largest amount in three months, helped by solid gains in demand for airplanes and autos.
The Commerce Department says orders for durable goods increased 2.2 per cent last month following a 1.3 per cent drop in January. The February rebound was led by a 13.6 per cent surge in orders for commercial aircraft. Orders for motor vehicles and parts rose 3.6 per cent, recovering from a January decline.
But a category that serves as a proxy for business investment plans fell 1.3 per cent in February, the biggest drop since a 1.6 per cent December decline. Orders in this category had been up 0.8 per cent in January.
Economists are hoping for a sustained rebound in manufacturing as the economy improves this year.
News from © The Associated Press, 2014