Durable Goods Orders Increase

A piece of good news (even if a temporary one):

The Commerce Department said Wednesday that orders for durable goods — manufactured products expected to last at least three years — increased 3.4 percent last month; private economists had expected a 2 percent drop. It was the first advance since July and the strongest one-month gain in 14 months.

Last month's strength was led by a surge in orders for military aircraft and parts, which shot up 32.4 percent. Demand for machinery, computers and fabricated metal products also rose.

Still, the rebound may be temporary given all the problems facing the economy, and a large drop in orders in January was revised even lower. [NPR]