Durable Goods Orders Drop 2%
In its latest report on manufacturers’ shipments, inventories and orders, the U.S. Census Bureau said new orders for durable goods in January, down two of the last three months, decreased $9.6 billion or 2% to $472.9 billion. This followed a 1.3% December increase.
Excluding transportation, new orders increased 1.3%. Transportation equipment, down following two consecutive monthly increases, led the decrease, down $1.4 billion or 2.2% to $64.8 billion.
Shipments of manufactured nondurable goods, up following two consecutive monthly decreases, increased $1.6 billion or 0.6% to $255.6 billion. This followed a 0.6% December decrease. Petroleum and coal products, up following two consecutive monthly decreases, led the increase, up $0.9 billion or 1.3% to $74 billion.
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