January’s durable goods orders rise 3.3%
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Manufacturing News, Source : TheManufacturer.com
Published : 27 Feb 2003 16:14
Orders for durable goods increased by 3.3% to $174.78 billion in January, and it was the largest increase in six months, according to the Commerce Department’s latest report.
The increase was a pleasant surprise, following December’s revised drop of 0.4%. A Dow Jones-Newswire CNBC survey predicted only a 1% increase. Most categories surveyed experienced an increase in orders, except for defense and aircraft. Transportation equipment orders rose 5.1%, while automobile orders grew an impressive 10.7%. However, orders for non-defense aircraft and parts fell by 19.8%. Excluding transportation orders for January, durable goods would have only increased by 2.5%.
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