Durable goods orders jumped 3.0% in January to $175.7 billion, far surpassing economists’ expectations in the second straight monthly increase, data released yesterday by the Commerce Department showed.
The jump appeared to be driven by a sharp 15.6% rise in new orders for transportation equipment, which rose to $44.76 billion, as well as a 126.0% spike in new orders for nonmilitary aircraft and parts, which rose to $7.08 billion.
However, new orders for durable goods excluding transportation fell 0.6% to $130.99 billion, following a revised 2.0% increase in December that was originally reported as a 0.9% rise, Commerce said.
The overall 3.0% spike in January durable goods orders followed a revised 1.9% increase in December, originally reported as a 0.3% rise. Economists had predicted a 1.4% rise in orders and a 0.9% jump excluding transportation.
