US Factory Orders Rise in February

New orders for U.S.-made goods increased for a third straight month in February on growing demand for machinery and electrical equipment, suggesting the manufacturing sector recovery was gaining steam.

Factory goods orders rose 1.0 percent, the Commerce Department said on Tuesday after an upwardly revised 1.5 percent increase in January.



Economists polled by Reuters had forecast factory orders advancing 1.0 percent in February after a previously reported 1.2 percent increase in January.

Factory orders were up 4.6 percent from a year ago.

Shipments of manufactured goods increased 0.3 percent after a similar gain in January. Manufacturing, which accounts for about 12 percent of the U.S. economy, is recovering in part as steadily rising oil prices reinvigorate the energy sector, leading to demand for machinery and other equipment.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza