January Economic Report: Mixed Signals for Manufacturing

2 years ago

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American manufacturers saw an increase in orders for big-ticket durable goods in January -- the largest in six months -- with much of it coming from a surge in demand for commercial aircraft, the Associated Press reported.

But it was another good news/bad news situation. Factory orders for machinery, automobiles and other products actually fell last month -- anything but a strong showing for the manufacturing sector.

The Commerce Department said overall orders for durable goods rose 3 percent, the biggest boost since a 5.8 percent increase in July. But taking away transportation, orders fell by 0.6 percent.

Also discouraging, new unemployment claims jumped last week -- perhaps due in part to horrible weather in the northeast -- with 496,000 applications for jobless benefits, The Washington Post said. That was up 22,000 from the previous week and higher than forecasters' predictions for mid-February.

Filed Under: Economy, Energy, Unemployment, Jobs, Transportation

Tagged: Daily Guidance, DailyGuidance

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