Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

US durable goods orders fall to 6-year low in Jan

Published 02/26/2009, 08:32 AM
Updated 02/26/2009, 08:32 AM

WASHINGTON, Feb 26 (Reuters) - New U.S. orders for long-lasting manufactured goods fell for a sixth consecutive month to a six-year low in January, a government report showed on Thursday, as a global slump crimped exports and domestic spending faltered.

The decline in durable goods orders and its major components was much more than expected.

The Commerce Department said durable goods orders dropped 5.2 percent to $163.8 billion in January, the lowest level since December 2002. Orders for the prior month were revised down to a drop of 4.6 percent, previously reported as a 3 percent contraction.

New orders excluding transportation dropped 2.5 percent in January, while motor vehicles and parts fell 6.4 percent.

Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending, fell 5.4 percent in January. The previous month was revised to show a 5.8 percent plunge, previously reported as a 3.2 percent drop.

Analysts polled by Reuters had expected overall new orders to fall 2.5 percent in January and orders excluding transportation to drop 2.1 percent. (Reporting by Lucia Mutikani; Editing by Neil Stempleman)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.