U.S. durable goods jump in January, core slips
Investing.com
Published Feb 27, 2017 08:32AM ET
U.S. durable goods orders increase 1.8% in January, core orders fall 0.2%
Investing.com - U.S. orders for long lasting manufactured goods rose more than forecast in January, rebounding after two consecutive months of declines, although the core number registered an unexpected decline, according to official data released on Monday.
Total durable goods orders, which include transportation items, increased by 1.8% last month, the Commerce Department said, compared to economists' expectations for a gain of 1.7%.
December’s orders were revised down to show a decline of 0.8% from a previously reported 0.5% drop.
Durable goods are typically bulky or heavy manufactured products designed to last at least three years.
Core durable goods orders, which exclude volatile transportation items, dropped 0.2% last month, worse than forecasts for a 0.5% gain.
December's core durable goods orders showed a 0.9% advance, revised up from the previous 0.5% gain.
Durable orders excluding defense advanced 1.5% in January, compared to the prior month’s 1.2% increase (revised from a previously reported 1.7% gain).
Durable goods excluding defense and aircrafts fell 0.4% in January, compared to expectations for a 0.5% gain.
The previous month was revised up to a 1.1% rise from the prior 0.7% gain.
Immediately after the report, EUR/USD was trading at 1.0584 from around 1.0583 ahead of the publication; GBP/USD exchanged hands at 1.2419 compared to 1.2412 previously; while USD/JPY was at 112.47 from 112.40 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was unchanged at 101.08.
Meanwhile, U.S. stock futures pointed to a lower open. The Dow futures lost 33 points, or 0.16%, the S&P 500 futures lost 2 points, or 0.08%, while the Nasdaq 100 futures traded down 11 points, or 0.21%.
Elsewhere, in the commodities market, gold futures traded at $1,255.05 a troy ounce, compared to $1,256.05 ahead of the data, while crude oil traded unchanged at $54.52.
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Written By: Investing.com
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