WASHINGTON — New factory orders for manufactured goods increased 1.7% in January, meeting economists’ estimates and rising for the fifth consecutive month, the Commerce Department reported today.
Orders excluding transportation increased 0.1%, the sixth straight monthly gain.
Economists expected factory orders to increase 1.7% for the month, according to the median estimate from Thomson Reuters.
Total orders for December were revised higher to a 1.5% increase from 1.0% reported last month. Orders excluding transportation were revised to a 1.5% increase from 1.2%.
Durable goods orders increased 2.6%, the largest gain since July. Durable goods orders excluding transportation fell 1.0%, the first decline in three months, and durable orders excluding defense goods increased 1.1%, the fifth consecutive monthly increase.
