WASHINGTON (AP) — Orders to U.S. factories rose sharply in February from January on a surge in volatile demand for commercial aircraft. The gain offset a drop in key orders that signal business investment.
The Commerce Department said Tuesday that factory orders increased 3 percent in February. That's up from a 1 percent decline in January and the biggest gain in five months.
The increase was due mostly to a jump in orders for commercial aircraft. Those orders rose 95.1 percent. Orders for motor vehicles and parts also increased 1.4 percent.
Orders for all durable goods, which are products expected to last at least three years, jumped 5.6 percent. Orders for nondurable goods, such as processed food and clothing, rose 0.8 percent.
Despite the gains, the report showed that a key measure of business investment plans fell. That could mean that some companies were worried in February about steep federal spending cuts that started on March. 1.