Factory orders up in Feb., 1st time since July

WASHINGTON (AP) — Orders to U.S. factories rose in February, breaking a six-month losing streak.

The Commerce Department says factory orders rose 0.2% in February, which was the first increase since July.

But the good news for February is tempered by a revision in the January figure: orders fell 0.7%, worse than the 0.2% drop the government originally reported.

U.S. manufacturers in recent months have been hurt by disappointing economic growth in major trading partners like China, Europe and Japan and by a strong dollar, which makes U.S. goods more expensive overseas.

Orders for durable goods, meant to last at least three years, fell 0.2%. Nondurable goods orders rose 1.8%, pulled up by rebounding prices for petroleum products.

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