US durable goods orders rise by more than expected in February
By Alexander Bueso
Date: Tuesday 26 Mar 2024
(Sharecast News) - Orders for goods made to last more than three years increased by a bit more than expected last month.
According to the U.S. Department of Commerce, in seasonally adjusted terms, durable goods orders rose by 1.4% in comparison to the prior month to reach $277.9bn.
Economists had penciled-in a rise of 1.0% month-on-month.
Excluding the transportation sector orders grew by 0.5% (consensus: 0.4%).
Total orders were ahead by 1.8% year-on-year.
Core capital goods orders, which are often considered a lead indicator for business investment, and which exclude aircraft and defence, rose by 0.7% over the month.
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