WASHINGTON – The value of durable goods new orders rose 1.8% in January, slightly ahead of expectations for a 1.6% gain, as transportation orders posted a 6.0% gain but nontransportation orders declined, data released Monday showed.
New orders excluding transportation fell 0.2% in January, much weaker than the 0.5% gain expected, and the first posted decline in the series since July.
Analysts expected transportation orders to rise sharply on aircraft orders after a surprise decline in December. While motor vehicle orders rose only 0.2%, nondefense aircraft surged 69.9% and defense aircraft orders were up 59.9% after a 65.2% drop in the previous month.
Transportation orders excluding motor vehicles and aircraft fell 8.2%, according to an MNI calculation, providing some offset.
The nontransportation categories were mixed, with gains in machinery and fabricated metals offset by declines in primary metals and computer and electronics products.
Nondefense capital goods new orders rose 3.6% due to another spike in civilian aircraft orders, but were down 0.4% excluding civilian aircraft.
Durable goods shipments fell 0.1% in January, with nondefense capital goods shipments down 0.4% and down 0.6% excluding civilian aircraft shipments.
Durable goods inventories were flat in the month, while unfilled orders were down 0.4%.
Market News International is a real-time global news service for fixed-income and foreign exchange market professionals. See www.marketnews.com.