WASHINGTON, March 25 (Reuters) - New U.S. orders for long-lasting manufactured goods unexpectedly rebounded in February, rising for the first time in seven months, according to a government report on Wednesday that could bring some cheer to an economy mired in recession.
The Commerce Department said durable goods orders rose 3.4 percent to $165.6 billion in February, the biggest increase since December 2007, after a revised 7.3 percent plunge the prior month, previously reported as a 4.5 percent decline.
New orders excluding transportation rose 3.9 percent in
February, the largest gain since August 2005, while civilian
aircraft and parts dropped 28.9 percent after Boeing
Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending, expanded 6.6 percent in February. The prior month was revised to an 11.3 percent drop, previously reported as a 5.7 percent decline.
Analysts polled by Reuters had expected overall new orders to fall 2 percent in February, and orders excluding transportation to drop 2 percent. (Reporting by Lucia Mutikani; Editing by Neil Stempleman)