US factory orders up 1.7% in January

By Gokhan Ergocun

ISTANBUL (AA) - Factory orders in the US rose 1.7% month-on-month in January, in line with expectations, according to official Commerce Department figures released Wednesday.

Factory orders posted an increase following two months of decline; they had dropped 0.6% in December.

In January, durable goods orders climbed 3.2% and orders for non-durable goods 0.3%.

Factory orders are important in terms of shedding light on the near future performance of the industrial sector.