US orders for manufactured goods rose in January, boosted by demand for transport equipment, computers and electronic products, the US government said today in a report providing more signs the worst may be over for the troubled manufacturing sector.
The Commerce Department said factory orders rose 1.6 per cent in January to a seasonally adjusted $325.8 billion after a revised 0.7 per cent rise in December. The increase was slightly better than the 1.5 per cent expected by analysts.
Increases were seen across the board. The category of long-lasting durable goods climbed 2 per cent after a 0.9 per cent rise the previous month.
Within that category, transportation equipment surged 4.1 per cent after rising 1.8 per cent in December, mainly due to a sharp rise in demand for defense aircraft and parts. Computers and electronic products were up 1.9 per cent compared to a 3.6 per cent rise the month before.