Posted 2/27/2024, 1:31:00 PM
Durable Goods Orders Fall 6.1% in January on Drop in Airplane Demand, But Broader Business Investment Holds Steady
- Orders for durable goods fell 6.1% in January, driven by a drop in airplane contracts
- Excluding transportation, orders fell only 0.3%, indicating broader business performance remains decent
- A key measure of business investment was flat in January after a period of weakness
- Declines in commercial plane and auto orders were expected due to business cycles
- Shipments of core manufactured goods rose 0.8% in January, which could boost GDP forecasts
