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US durable goods orders drop 1 per cent in January, led by less demand for aircraft and autos

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Core Tip:WASHINGTON — American businesses ordered fewer long-lasting manufactured goods in January, cutting their demand

WASHINGTON — American businesses ordered fewer long-lasting manufactured goods in January, cutting their demand for aircraft, autos and machinery.

But a key category that reflects business investment rose a solid 1.7 per cent. Demand for electronic products and fabricated metals such as steel rose.

The Commerce Department says orders for durable goods declined a seasonally adjusted 1 per cent in January compared with December.

Much of last months decline was driven by a 20.2 per cent dro in demand for commercial aircraft, a volatile month-to-month category. Orders for all transportation-related equipment fell 5.6 per cent.

Cold weather has limited manufacturing output this winter, delaying shipments of raw materials and causing some factories to temporarily shut down.


 
 
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