US factory orders up 0.6% in February

US factory orders jumped 0.6% in February, compared to the previous month, exceeding estimates, according to data released Wednesday.

Markets expected the figure to rise 0.5% month-on-month in February.

The figure decelerated from the 1.8% increase in the previous month, US Census Bureau data showed.

New orders for manufactured goods, which measure the change in the value of new purchase orders placed with manufacturers, jumped $3.6 billion to $594 billion.

The figure for January was revised upwards to $590.4 billion for a rise of 1.8%.

New orders for manufactured durable goods in February, meanwhile, rose $2.7 billion, or 0.9%, to reach $289.3 billion-up for two consecutive months.

Transportation equipment, also up for two consecutive months, led the increase with a rise of $1.4 billion, or 1.5%, to reach $98.3 billion.

New orders for manufactured non-durable goods, meanwhile, climbed $0.8 billion, or 0.3%, to $304.5 billion.