Orders for US durable goods up 2.8 percent in January

Source: AP-Excite

By MARTIN CRUTSINGER

WASHINGTON (AP) — Orders to U.S. factories for long-lasting manufactured goods rebounded in January, rising by the largest amount in six months, although much of the strength came from a big jump in airplane orders. A key category that signals business investment plans did manage a small gain.

Orders for durable goods increased 2.8 percent in January, the biggest increase since July. Orders were down 3.7 percent in December and 2.2 percent in November, the Commerce Department reported Thursday.

Demand in a category that serves as a proxy for business investment increased 0.6 percent in January. It was a small gain but it came after four consecutive declines including decreases of 0.7 percent in December and 0.5 percent in November.

The 2.8 percent rebound in total orders was larger than had been expected but it was heavily influenced by a surge in demand in the volatile category of commercial aircraft, which soared 128.5 percent in January after having fallen 58.3 percent in December.

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In this Oct. 22, 2014 photo, workers perform final inspections on 2015 Ford Explorers on the assembly line at the Chicago Ford Assembly Plant in Chicago. The Commerce Department releases its January report on durable goods on Thursday, Feb. 26, 2015. (AP Photo/M. Spencer Green)

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