Factory orders increase slightly

WASHINGTON, March 31 (UPI) -- Factory orders inched up 0.2 percent in February, the U.S. Department of Commerce reported Thursday.

That was the same rise in orders posted in January and below market expectations of a 0.5 percent increase.

Durable goods orders rose 0.5 percent in February, up from a 1.2 percent decline the earlier month. But excluding demand for military goods including aircrafts, orders fell 1.7 percent in February, while it posted a 4.4 percent increase in January.

Meanwhile, factory inventories rose 0.5 percent while the inventories-to-shipments ratio rose to 1.25 months from 1.23 months.