The Commerce Department reports factory orders rose 1% in February for the seventh gain in eight months, a sign of the rebounding manufacturing industry. That matched the consensus forecast. January’s was revised up to 1.5%. Excluding transportation factory orders rose 0.4%. with nondefense aircraft and parts orders up 47.5%. Shipments have climbed for eleven of the last twelve months.
Transportation Secretary Elaine Chao told a group of chief executives that the White House is working on a legislative package for infrastructure development rhat would probably come in late May. The audience included the CEO of Skanska’s U.S. building operation as well as Citigroup and JetBlue. Chao said the administration hopes to offer a package of a trillion dollars over 10 years to improve the “connectivity” of U.S. infrastructure. National Economic Council Director Gary Cohn said upgrading the air traffic control system would be the most exciting thing the U.S. can do on infrastructure.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
