US durable goods orders rise by more than expected in February

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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