U.S. Manufactured Durable Goods Orders Up Unexpectedly In February

New orders for U.S. manufactured durable goods unexpectedly increased in the month of February, according to a report released by the Commerce Department on Friday.

The Commerce Department said durable goods orders climbed by 0.9 percent in February after spiking by an upwardly revised 3.3 in January.

Economists had expected durable goods orders to slump by 1.0 percent compared to the previously reported 3.2 percent surge.

Excluding a jump by orders for transportation equipment, durable goods orders still rose by 0.7 percent in February after inching up by 0.1 percent in January. Ex-transportation orders were expected to rise by 0.2 percent.

At 10 am ET, Minneapolis Federal Reserve President Neel Kashkari is due to host a “Fed Listens” event conversation before the Detroit Lakes Regional Chamber of Commerce Economic Summit.

The Energy Information Administration is scheduled to release its report on oil inventories in the week ended March 21st at 10:30 am ET.

At 1 pm ET, the Treasury Department is due to announce the results of this month’s auction of $70 billion worth of five-year notes.

St. Louis Federal Reserve President Alberto Musalem is scheduled to speak and participate in a moderated conversation on the U.S. economy and monetary policy before a Paducah Area Chamber of Commerce/Greater Paducah Economic Development luncheon at 1:10 pm ET.