US durable goods orders stall in January

(Sharecast News) - Orders for US-manufactured durable goods were flat month-on-month in January, according to the Census Bureau, following December's downwardly revised 0.9% decrease and compared to consensus expectations of a 1.2% increase. Primary metals orders were up 0.8% month-on-month, as were orders for computers and electronic products, while orders for fabricated metals products rose 0.6%.

However, these were offset by a 1.1% declines in capital goods orders, a 0.9% drop in transportation equipment orders, and 0.6% fall in orders for orders of electrical equipment, appliances, and components.

Excluding transportation, new orders were up 0.4%, after an upwardly revised 1.3% increase in December. Excluding defense, durable goods orders increased by 0.5%, following a revised 1.9% decline in December.

Meanwhile, orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, were unchanged month-on-month, following December's upwardly revised 0.8% uptick.







Reporting by Iain Gilbert at Sharecast.com