Durable goods orders ex-transportation rise in January

The Commerce Department said on Thursday durable goods orders excluding transportation rose 1.1 percent, the largest increase since May, after falling 1.9 percent in December. Outside these three components, details of the report were weak, with declines in orders for machinery, primary metals, electrical equipment, appliances and components, and transportation equipment. As result, they are placing fewer orders with manufacturers, holding back factory production. Overall durable goods orders fell 1.0 percent last month after plunging 5.3 percent in December.

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