Story developing. Stay tuned for updates here. The numbers: Orders for durable or long-lasting goods sank 6.1% in January, but the decline was exaggerated by a brief lull in orders for Boeing passenger planes. Economists polled by The Wall Street Journal had forecast a 5% decline.
New orders fell by a mild 0.3% last month if planes and cars are stripped out. Orders minus transportation give a more accurate view of how well businesses are performing. A key measure of business investment, meanwhile, was basically flat. So-called core orders edged up 0.1% in January. Big picture: The industrial side of the economy has been showing signs of recovery after a long stretch of weakness. Customer spending is fairly robust and the prospect of lower interest rates later in the year could boost demand and make it easier for companies to borrow and invest. Key details: Orders for commercial planes nosedived 59% in January. Boeing
BA,
-0.14%
garnered a big flush of contracts in December, and as expected, saw new deals dry up in January. Its business tends to be highly cyclical. Carmakers for their part, saw a slight 0.4% decline in orders. Sales tend to be stro …
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New orders fell by a mild 0.3% last month if planes and cars are stripped out. Orders minus transportation give a more accurate view of how well businesses are performing. A key measure of business investment, meanwhile, was basically flat. So-called core orders edged up 0.1% in January. Big picture: The industrial side of the economy has been showing signs of recovery after a long stretch of weakness. Customer spending is fairly robust and the prospect of lower interest rates later in the year could boost demand and make it easier for companies to borrow and invest. Key details: Orders for commercial planes nosedived 59% in January. Boeing
BA,
-0.14%
garnered a big flush of contracts in December, and as expected, saw new deals dry up in January. Its business tends to be highly cyclical. Carmakers for their part, saw a slight 0.4% decline in orders. Sales tend to be stro …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]