US durable goods orders fall in January

Thursday 27 February 2014 14.50
US Commerece Deparment notes a sharp drop in civilian aircraft orders in January
US Commerece Deparment notes a sharp drop in civilian aircraft orders in January

New orders for US manufactured durable goods fell for a second month in a row in January, depressed by a sharp drop in civilian aircraft orders, official data released today showed.

New durable goods orders fell 1% in January, extending December's 5.3% tumble, the Commerce Department said.

Excluding transportation equipment, a typically volatile sector, new orders increased 1.1%. The figures show that civilian aircraft orders plunged over 20%, while orders for motor vehicles dropped 2.2%

The fall in durable goods orders was slightly less than expected. Analysts had expected ex-transportation orders to dip 0.3%.

On a year-on-year basis, January orders were up 2.4%.