The largest factor behind the surprise rise in durable goods orders was defense spending, with new orders of defense aircraft and parts increasing by almost a third from a month...
Durable goods orders dipped 1% last month, according to the Commerce Department, less than January's fall but defying analyst expectations of a monthly increase instead.
“The U.S. manufacturing sector again contracted, with the Manufacturing PMI at its lowest level since the coronavirus pandemic recovery began," said Timothy Fiore.