The data on February Factory Orders has been released and the results are showing that orders were up 1.3% in the month. While not a bad number, Dow Jones had estimates expected to be up by 1.5%. It was also tempered by the January report showing a factory orders revision was lower down to -1.1% from a preliminary figure of -1.0%.
February’s data was also lower if you take out the more volatile readings. On an ex-defense basis the orders came in +1.1%. On an ex-transportation basis the orders came in at only +0.9%.
It should be noted that today’s data highlights a report measuring February and we have already seen better ISM data on manufacturing for the month of March. That might not temper some cautious optimism today but it does need to at least be kept in mind that there is newer data out.
The DJIA did drop on the news but only marginally and the market appears to have ticked back up. With a one-month lag on the orders data we generally downplay the importance here compared to a same-month release of more current or live data.
JON C. OGG
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
