Investing.com - U.S. durable goods orders rose more than expected in March, while core orders also topped forecasts, official data showed on Thursday.
In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, climbed by a seasonally adjusted 2.6% last month, beating expectations for a 2% gain.
Orders for durable goods in February were revised down to a 2.1% gain from a previously reported increase of 2.2%.
Durable goods are typically bulky or heavy products designed to last at three years, such as trains, computers or furniture.
Core durable goods orders, excluding volatile transportation items, rose by a seasonally adjusted 2% in March, easily surpassing forecasts for a 0.6% gain. Core durable goods orders rose by 0.1% in February.
Orders for core capital goods, a key barometer of private-sector business investment, rose 2.2% last month, beating expectations for a 1.5% increase and after falling 1.1% in February.
Shipments of core capital goods, a category used to calculate quarterly economic growth, rose 1% in March, in line with forecasts, after increasing 0.7% in the preceding month.
Following the release of the data, the U.S. dollar turned higher against the euro, with EUR/USD shedding 0.08% to trade at 1.3806, compared to 1.3823 ahead of the data.
Meanwhile, U.S. stock index futures pointed to a higher open. The Dow 30 futures pointed to a gain of 0.35%, S&P 500 futures indicated a rise of 0.6%, while the Nasdaq 100 futures signaled an increase of 1.8%.