Durable goods rises for the fourth consecutive month
- Prior -0.7% (revised from preliminary -0.9%) revised to +1.2%.
- Durable goods orders rose +1.6% versus 0.8% estimate. The gain was the 4th straight monthly advance, and the 8th increase in 9 months.
- Transportation equipment - which has been up for three consecutive months - led the increase with a 3.4% rise in January
- Durables ex-transportation +0.7% versus 0.4% expected.
- Prior ex-transportation +0.6% revised to 0.9%
- Durable ex Defense +1.6% versus 0.1% expected. Prior month revised to +2.7 versus 0.3% previously reported
- Nondefense capital Ex air +0.9% versus 0.5% expected. Prior month was revised to +0.4% from +0.3%
- Durable goods shipments +1.2% versus Decembers +1.3%. The gain is also the 8th in the last 9 months. The gains were led by machinery which had been up for 10 of the last 11 months and increase by 2.7% in January.
- January nondefense capital shipments ex aircraft +1.9% versus Decembers +1.6%
Overall, the headline data - and the revisions - are good news for the economic growth to start the new year, but the data is preliminary and tends to be subject to revisions.
For the full report from the US Census bureau click here