US factory orders rise more than expected

(Sharecast News) - Factory orders in the United States grew in February, according to data out on Wednesday from the Census Bureau, while the previous month's figures were revised higher. New orders for goods made in the US rose by 0.6% in February to $594bn, ahead of the 0.5% gain expected by economists.

This followed a 1.8% increase in January, the Census Bureau said, which was revised up from the initial reading of 1.7%.

New orders for manufactured durable goods rose 1.0% to $289.4bn, while new orders for non-durable goods rose 0.3% to $304.5bn.