US factory and durable goods orders up in Jan

According to the data released by US Commerce Department, US factory orders and durable goods orders increased in January.

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.