Economic Buzz: US factory orders see slight rise in January
The small increase was mainly driven by a 0.3% rise in orders for nondurable goods, which totaled $298.7 billion. Meanwhile, orders for durable goods remained mostly flat at $321.3 billion.
Some sectors showed modest growth, including computers and electronic products, machinery, fabricated metal products, and primary metals. However, these gains were partly offset by a drop in transportation equipment orders, which fell 0.8% to $113.5 billion. This decline was largely due to a sharp 23.8% fall in defense aircraft orders.
When transportation is excluded, factory orders increased by 0.4%, marking the third straight monthly gain.
Overall, the data suggests steady but modest growth in US manufacturing activity at the start of the year, according to the U.S. Census Bureau.
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