WASHINGTON--New orders received by U.S. factories rose in February, government data showed on Thursday, breaking a six-month streak of declines and bolstering hopes the economy may be beginning to crawl out of the depths of a recession.
The Commerce Department said factory orders rose 1.8% in February after a revised 3.5% drop in January, initially reported as a 1.9% decline.
Economists polled by Reuters had expected a February increase of 1.5%.
Orders for non-defense capital goods excluding aircraft, seen as a measure of business confidence, jumped 7.1% after a steep 12.3% drop in January.
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