Orders for Durable Goods Jump 2.6% in Jan. - Los Angeles Times
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Orders for Durable Goods Jump 2.6% in Jan.

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From Bloomberg News

Durable goods posted an unexpectedly large jump in January, but new-home sales fell last month to the lowest level in 11/2 years.

The 2.6% increase in orders, reflecting more demand for autos, aircraft and computers, followed a 0.9% rise the previous month, the Commerce Department said.

Sales of new homes slumped 14.8% last month to 823,000 units at an annual rate, the slowest since June 2000.

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A rebound in demand for durable goods that started a month after the September terrorist attacks suggests factories are emerging from a contraction that began in August 2000.

Durable goods orders, excluding transportation equipment, rose 1.3% in January after increasing a revised 0.4% the previous month. Durable goods are products such as appliances and cars made to last more than three years.

Non-defense capital goods orders, a gauge of business investment in new equipment, increased 0.5% in January after decreasing 1.2% a month earlier.

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Orders for aircraft and parts surged 21.6% in January after rising 0.1% the previous month. Boeing Co., the world’s biggest airplane maker, said it received 104 aircraft orders, up from 41 bookings the previous month.

The report also showed inventories of durable goods fell 0.6% in January, the smallest decrease since April.

Orders for automobiles and parts increased 4.3% in January after a 1% increase in December.

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