Investing.com - U.S. durable goods orders rose more than expected in February, while core orders came in below forecasts, official data showed on Wednesday.
In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, climbed by a seasonally adjusted 2.2% last month, easily surpassing expectations for a 1% gain.
Orders for durable goods in January were revised down to a 1.3% decline from a previously reported drop of 1%.
Durable goods are typically bulky or heavy products designed to last at three years, such as trains, computers or furniture.
Core durable goods orders, excluding volatile transportation items, inched up by a seasonally adjusted 0.2% in February, missing forecasts for a 0.3% gain. Core durable goods orders in January were revised to a 0.9% increase from a previously reported rise of 1.1%.
Orders for core capital goods, a key barometer of private-sector business investment, fell 1.3% last month, confounding expectations for a 0.7% increase and after rising 0.8% in January.
Shipments of core capital goods, a category used to calculate quarterly economic growth, eased up 0.5% in February, compared to forecasts for a gain of 0.8%, after slumping 1.4% in the preceding month.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.21% to trade at 1.3797.
Meanwhile, U.S. stock index futures pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.43%, S&P 500 futures indicated a rise of 0.38%, while the Nasdaq 100 futures signaled an increase of 0.51%.