Durable Goods Orders Jump Much Higher Than Expected

WASHINGTON, DC - FEBRUARY 11: U.S. President Joe Biden speaks as he meets with Senators from both parties on the critical need to invest in modern and sustainable American infrastructure in the Oval Office of the White House on February 11, 2021 in Washington, DC. An infrastructure bill that creates …
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U.S. orders for durable goods jumped in January by the most in six months, indicating that the manufacturing sector is recovering much faster than expected.

Orders for durable goods rose 3.4 percent compared with December, the Commerce Department said Thursday. The prior month was also revised up to show a 1.2 percent gain from November.  Initially, this was estimated as just a 0.2 percent gain.
Core capital goods orders, which excludes aircraft and defense spending, moved 0.5 percent higher after an upwardly revised 1.5% gain in December.

Economists had forecast a 1.1 percent gain. The actual result beat out even the most optimistic estimates by economists surveyed by Econoday.

Excluding transportation goods, orders jumped 1.4 percent. That is more than twice what was expected. The prior month was revised up from 0.7 percent to 1.7 percent.

 

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