U.S. Factory Orders Drop 0.2%

Orders to U.S. factories for manufactured goods declined 0.2% in February, erasing a slight increase the month before, the government reported today.

The Commerce Department said orders fell $500 million last month to a total of $193.5 billion following a revised 0.2% January increase. February’s decline came from a sharp 1.2% decline in orders for durable goods, mainly defense items, which wiped out a 0.9% increase in orders for non-durable goods.