US factory and durable goods orders up in Jan
The data showed that factory orders increased by 1.2% in January after a rise of 1.3% in December and matched the economists’ estimates.
The rise in factory orders was attributed to the increase in orders for durable goods by 2% in January after a drop of 0.9% in December. The increase in orders for durable goods was driven by the upward movement of transportation equipment by 6.2% in January, after a fall of 4.3% in December.
The data also showed that orders for non-durable goods orders were up slightly further by 0.4% in January after a jump of 3.4% in December.
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