US Factory Orders are up more than expected

The US Commerce Department said today that US factory orders rose 2.6% in January after rising 1.6% in December, and analysts had expected US factory orders to rise 2.1% in January.

On an annual basis, factory orders rose 1.3% in the twelve months to January compared to the same period last year, and the Institute for Supply Management's National Factory Activity Index rose to its highest level in three years in February. Capital goods orders rose 0.4% in January, core capital goods shipments rose 1.8% in January, and factory vacant orders rose 0.1% in January after falling 0.2% in December.