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US durable goods orders rise 3.1% in February

New orders for U.S. manufactured durable goods rose 3.1% to a seasonally adjusted $247.72 billion in February from a revised $240.27 billion in January, the U.S. Census Bureau reported.

Transportation equipment led the increase in new orders, climbing 7.1% to $83.49 billion from $77.99 billion.

New orders increased 1.2% month over month to $164.22 billion excluding transportation equipment, and were up 2.5% at $235.03 billion excluding defense equipment.

Shipments of manufactured durable goods went up 0.9% month on month to $249.71 billion, with machinery leading the increase.

Unfilled orders edged up 0.2% to $1.143 trillion on a monthly basis and inventories increased 0.4% to $410.57 billion. Transportation equipment posted the biggest gains in both categories.

Meanwhile, non-defense new orders for capital goods rose 4.5% to $77.37 billion in February from $74.03 billion in the previous month. Defense new orders for capital goods jumped 16.5% to $10.68 billion from $9.17 billion.