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Financial News: U.S. Durable Goods Orders Climb More Than Expected

U.S. Durable Goods Orders Climb More Than Expected In February

03/24/2017 - 08:40:00 (RTTNews)

(RTTNews) - Reflecting a continued increase in demand for commercial aircraft and parts, the Commerce Department released a report on Friday showing that new orders for U.S. manufactured durable goods shot up by more than anticipated in the month of February.

The report said durable goods orders jumped by 1.7 percent in February after surging up by a revised 2.3 percent in January.

Economists had expected orders to climb by 1.2 percent compared to the 2.0 percent spike that had been reported for the previous month.

Excluding orders for transportation equipment, durable goods orders rose by 0.4 percent in February after edging up by 0.2 percent in January. The increase fell short of estimates for 0.6 percent growth.

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