Despite solid fundamentals, sentiment in the U.S. manufacturing sector has mostly been informed by buzzy anxieties over economic growth.

Take durable goods, for example: After a surprising beat on new orders in January, analysts expected a correction in February. Instead, new orders for durable goods grew 0.9% month over month (m/m) against consensus expectations of a 1% m/m drop, while January's growth was revised up to 3.3% m/m.

Growth in February's headline number came despite a 5% m/m drop in orders for nondefense aircraft – beleaguered aircraft manufacturer Boeing reported only 13 orders in February, down from 36 per month previously.