Orders For US Factory Goods That Signal Business Investment Jump 7.2 Pct. Un January

By Associated Press, Updated: Wednesday, March 6, 10:32 AM

WASHINGTON — U.S. orders for machinery and other factory goods that signal business investment surged in January, indicating confidence in the economy.

The Commerce Department said Wednesday orders for so-called core capital goods, which also include equipment and computers, rose 7.2 percent from December. It was the biggest gain in more than a year and higher than the initial estimate the government made last week of a 6.3 percent.

Total factory orders fell 2 percent in January from December, but that was mostly because of a steep decline in volatile aircraft and defense orders that was also reported last week.

Demand for durable goods, items expected to last at least three years, dropped 4.9 percent. Demand for nondurable goods, such as chemicals and paper, rose 0.6 percent.

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http://www.washingtonpost.com/business/orders-for-us-factory-goods-that-signal-business-investment-jump-72-pct-in-january/2013/03/06/330819d8-8672-11e2-a80b-3edc779b676f_story.html