U.S. durable-goods data stronger-than-expected in January
Source: MarketWatch
Economic Report
U.S. durable-goods data stronger-than-expected in January
Last Updated: Feb. 25, 2022 at 8:50 a.m. ET
First Published: Feb. 25, 2022 at 8:44 a.m. ET
By Greg Robb
Core orders rise a healthy 0.9%
The numbers: Orders for durable goods rose 1.6% in January, the government said Friday. ... Economists had forecast a 0.8% rise in orders for durable goods — products made to last at least three years. Orders for December were revised up sharply to a 1.2% gain from the prior estimate of 0.7%. ... Core capital goods orders, which exclude volatile sectors like transportation and defense, rose 0.9% in January.
Key details: Excluding transportation, orders were up 0.7% in January. Excluding the defense sector, orders were up 1.6%. ... Bookings for commercial aircraft jumped 15.6% in the month.
Big picture: The durable goods sector looks in much better shape than prior to the data. Economists had been worried about signs of a moderation in orders. The factory sector has been a pillar of strength during the pandemic.
Market reaction: U.S. stocks DJIA, +0.70% SPX, +0.41% were moving on minute-by-minute developments related to Russia’s invasion of Ukraine. Reports that Russia might be open to negotiations led to expectations of a higher market opening.
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Read more: https://www.marketwatch.com/story/u-s-durable-goods-data-show-stronger-than-expected-strength-in-january-11645796657
https://www.census.gov/manufacturing/m3/adv/pdf/durgd.pdf
