Factory orders buck estimates, rising slightly in February, ending six-months of declines.
The latest report from the Commerce Department showed a jump of 0.2% versus analysts who were looking for a 0.6% decline.
The jump is nowhere near enough to make up for January’s decline, which was revised up to 0.7% from 0.2%.
Orders, excluding transportation, added 0.8% in February while shipments jumped by 0.7%.
Energy weighed heavy, with orders for equipment used in oil drilling and other production areas fell 16.6%, marking three months straight of declines.
Transportation segments lost in February. Orders for cars and car parts fell 1.2% and orders for private aircraft and plane parts fell a big 8.8%.
Orders for non-defense capital goods excluding aircraft, an area seen as an indicator of future business spending, fell 1.1%.
Shipments of manufactured durable goods decreased $0.5 billion or 0.2% to $244.0 billion in February adding to drops in four of the last five months,. This followed a 1.4% January decrease.
The strong dollar, weak weakening economies in China and Europe, along with the fallout from the now resolved West Coast port work slowdown, took their toll on manufacturers.
