Greater demand for commercial aircraft helped U.S. businesses increase their orders for long-lasting manufactured goods last month, but a key category that tracks business investment plans slipped slightly.
Figures released Friday morning by the U.S. Commerce Department orders for durable goods rose 1.7% in February and an upwardly revised 2.3% in January. Orders so far this year are running 1.6% higher than in the first two months of 2016. But demand in a category that excludes aircraft and military goods — and reflects business investment plans — dipped 0.1%
Orders for commercial aircraft saw a 47.6% jump in February. Orders also rose for primary metals. But demand for motor vehicles slumped. It appears manufacturers stateside are recovering from a rough patch that began in 2015 as oil prices fell and the dollar strengthened.
