Feb durable goods new orders +3.1%, well....>

US DATA: Feb durable goods new orders +3.1%, well above the +1.7% exp, 

led by +7.1% in transportation. This followed a 3.5% drop in Jan, the 

only decline for durable goods new orders in the last four months. 

- Durable goods ex-transport orders +1.2% vs +0.6% exp and after -0.2% 

in Jan. This strong reading was due to gains in primary metals, 

fabricated metals products, machinery, and electrical equipment, with 

only computers and electronic products orders down. Gains in seven of 

the last eight months suggest underlying strength.

-Within transportation, nondefense aircraft orders +25.5%, defense 

aircraft orders +37.7%, mtr vehicle orders +1.6%, and unlisted 

transportation components +11.7%, according to an MNI calc.

- Nondefense capital goods new orders +4.5% and +1.8% ex. aircraft. 

- Durable shipments +0.9%. Nondef cap gds shipments +1.2% and +1.4% ex. 

air. Durable inventories +0.4%, unfilled orders +0.2%.