US durable goods orders soar in January, higher than forecast

By Tuba Sahin

ANKARA (AA) – 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.