U.S. Census Bureau data released April 2 showed that new orders of manufactured goods — up two consecutive months — increased 0.6% month-to-month during February to $594.0 billion, following a dramatic 1.8% increase in January.

Economists expected factory orders to increase by 0.5% month-to-month, according to media outlets.

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The Bureau’s latest report noted that February durable goods — also up two consecutive months — increased 1.0% month-to-month, up from the advance figure of a 0.9% increase. This followed a 3.4% increase in January.

Unfilled orders — up seven of the last eight months — increased 0.1% in February, unchanged from the previously published increase. This followed a 0.2% increase in January.

February’s unfilled orders-to-shipments ratio was 6.81, down from January’s 6.84.

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Inventories — up four consecutive months — increased 0.1%, unchanged from the previously published increase. This followed an unchanged increase in January.

The Institute for Supply Management released its monthly manufacturing Purchasing Managers Index (PMI) on April 1, reflecting March activity, which was down 1.3-percentage-points from February to a reading of 49%.