U.S Factory Orders Rise 2.6% in January

Factory orders in the United States increased by 2.6% in January, data by the U.S. Census Bureau showed on Thursday.

The reading exceeds that of market expectations, as a recent Dow Jones and Wall Street Journal poll of market experts expected a 2.3% increase in factory orders.

The manufacturing sector continues to show positive signs as the American economy recovers from the impact of the Coronavirus pandemic.

Orders for durable goods rose by 3.4%, while orders for nondurable goods declined by 1.9%.