US durable goods orders soar in January, higher than forecast
Up for 3rd month in row, transportation equipment leads increase in January's durable goods orders
ANKARA
The US durable goods orders rose in January compared to a month ago, much higher than the market expectation, according to official data revealed Friday.
New orders for manufactured durable goods grew $4.3 billion, or 1.6%, to $277.5 billion last month, the US Commerce Department's Census Bureau said in a statement.
This increase, up eight of the last nine months, followed a 1.2% rise in December.
Durable goods orders, which shows the change in the total value of new orders for long-lasting manufactured goods including transportation items, had been projected to rise 0.8% in January.
"Excluding transportation, new orders increased 0.7%. Excluding defense, new orders increased 1.6%," the Census Bureau said.
Transportation equipment advanced for the third month in a row, leading the increase in durable goods orders. It climbed $2.9 billion, or 3.4%, to $87.6 billion in January.
