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Durable goods orders surge

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Durable goods orders surge

4.9% increase in January reverses 4.6% decrease in December.

New orders for manufactured durable goods in January increased 4.9%, the U.S. Census Bureau announced today. The increase followed a 4.6% Decemberdecrease.

Non-defense capital goods orders excluding aircraft - so-call “core capital goods orders” - increased 3.9% during the month, following a revised 3.7% decrease in December.

Analysts had estimated an increase in durable goods of 2.5%.

The increase in core capital goods orders is a welcome sign, as it is generally considered a solid gauge of business spending. Its rise provides optimism for a rebound in manufacturing after several months of turmoil in the sector.

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