US Durable Goods Orders Surge In January To Pre-COVID Highs
Having slowed for 3 straight months, analysts expected US durable goods orders to re-accelerate and they were not wrong as preliminary January data showed a huge 3.4% MoM jump (more than triple the +1.1% MoM expected).
That is the ninth straight monthly rise in durable goods orders after the March/April collapse, with orders up 4.5% YoY to pre-COVID highs…
Core capital goods orders, a category that excludes aircraft and military hardware and is seen as a barometer of business investment, rose 0.5% after an upwardly revised 1.5% gain.
Thu, 02/25/2021 – 08:37