2020.02.2712:48:00UTC+00U.S. Durable Goods Orders Drop Much Less Than Expected In January

Reflecting a sharp pullback in orders for transportation equipment, the Commerce Department released a report on Thursday showing a modest decrease in U.S. durable goods orders in the month of January.

The Commerce Department said durable goods orders edged down by 0.2 percent in January after spiking by an upwardly revised 2.9 percent in December.

Economists had expected durable goods orders to slump by 1.5 percent compared to the 2.4 percent jump that had been reported for the previous month.

However, excluding the steep drop in orders for transportation equipment, durable goods orders climbed by 0.9 percent in January after a revised 0.1 percent uptick in December.

Ex-transportation orders had been expected to edge up by 0.2 percent compared to the 0.1 percent drop originally reported for the previous month.