US factory orders gain momentum in January
New orders for manufactured goods increase 1.4%, much above market expectation of 0.5%
By Tuba Sahin
ANKARA (AA) - US factory orders rose at a faster pace in January, according to the Commerce Department on Thursday.
New orders for manufactured goods went up by $7.6 billion, or 1.4%, to $544.2 billion.
While the expectation was an increase of 0.5%, December’s data was revised to $536.7 billion, or 0.7% increase.
New orders for manufactured durable goods also grew in the month.
Durable goods orders climbed $4.3 billion, or 1.6%, to $277.6 billion. They posted a 1.2% gain in December 2021.
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