US Factory Orders Experience a Notable Rise

In a promising sign for the US economy, new orders for manufactured goods increased by 0.6% in February, reaching a total of $594.0 billion. This uptick, as reported by the US Census Bureau, slightly exceeded the expectations of market analysts.

Shipments and Inventories Also on the Rise

Alongside the increase in orders, shipments saw a 0.7% month-on-month growth, totaling $596.1 billion. Unfilled orders also experienced a modest rise of 0.1%, standing at $1,400.7 billion. Inventories weren't left behind, with a 0.1% increase to $864.9 billion, although the inventories-to-shipments ratio showed a slight decrease from January's figures.