Durable Goods Orders Plunge in January

Washington, DC, February 27, 2008—Durable goods orders tumbled 5.3 percent in January, according to the Commerce Department.

The durables data showed a key barometer of business equipment spending -- orders for nondefense capital goods excluding aircraft -- decreased in January by 1.4 percent, after rising 5.2 percent in December.

Demand in the transportation sector fell 13.4 percent, after rising 10.2 percent in December.

Demand for all durables except transportation goods decreased 1.6% in January.

Durable-goods shipments of manufacturers increased 1.8 percent in January.