US durable goods orders rise 1.4% in February, beating estimates

By Ovunc Kutlu

ISTANBUL (AA) - US durable goods orders rose 1.4% in February, beating estimates, according to a report released Tuesday by the Commerce Department’s Census Bureau.

New orders for manufactured durable goods, showing an increase after two consecutive monthly declines, rose $3.7 billion to $277.9 billion, it said in a statement.

The estimate was for the figure to show a monthly increase of 1.2%, following a 6.9% decrease in January.

Excluding transportation, new orders climbed 0.5%, the bureau said, adding that new orders rose 2.2%, excluding defense.

"Transportation equipment, also up following two consecutive monthly decreases, led the increase, $2.9 billion or 3.3 percent to $90.4 billion," it said.