Business

US factory orders rise in Feb, buoy manufacturing

interns Contributor

New orders received by U.S. factories rose for a sixth straight month in February as businesses rebuilt inventories, data showed on Wednesday, pointing to continued expansion in the manufacturing sector.

The Commerce Department said orders for manufactured goods increased 0.6 percent after an upwardly revised 2.5 percent jump in January, initially reported as a 1.7 percent advance.

Economists polled by Reuters had forecast factory orders rising 0.5 percent last month.

Full story: US factory orders rise in Feb, buoy manufacturing