Investing.com - U.S. core durable goods orders fell significantly more-than-expected in January, falling for the first time in four months, official data showed on Tuesday.
In a report, the U.S. Census Bureau said core durable goods orders, excluding transportation items, tumbled by a seasonally adjusted 3.2% in January, confounding expectations for a flat reading.
The previous month’s figure was revised up to a 3.2% gain from a previously reported 3.0% increase.
The report showed that durable goods orders, which include transportation items, fell for the first time in three months in January, plunging by a seasonally adjusted 4.0%, after rising by 2.1% in December.
Analysts had expected durable goods orders to decline by 0.8% last month.
Shipments of core capital goods decreased by 4.5% last month, compared to expectations for a 1.3% decline, after climbing by a revised 3.4% in December.
The U.S. government uses the shipments data to help calculate gross domestic product.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD gaining 0.41% to trade at 1.3453.
Meanwhile, U.S. stock future indices pared gains after the release of the data. The Dow Jones Industrial Average futures pointed to a gain of 0.15%, S&P 500 futures rose 0.2%, while the Nasdaq 100 futures pointed to an increase of 0.3%.
In a report, the U.S. Census Bureau said core durable goods orders, excluding transportation items, tumbled by a seasonally adjusted 3.2% in January, confounding expectations for a flat reading.
The previous month’s figure was revised up to a 3.2% gain from a previously reported 3.0% increase.
The report showed that durable goods orders, which include transportation items, fell for the first time in three months in January, plunging by a seasonally adjusted 4.0%, after rising by 2.1% in December.
Analysts had expected durable goods orders to decline by 0.8% last month.
Shipments of core capital goods decreased by 4.5% last month, compared to expectations for a 1.3% decline, after climbing by a revised 3.4% in December.
The U.S. government uses the shipments data to help calculate gross domestic product.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD gaining 0.41% to trade at 1.3453.
Meanwhile, U.S. stock future indices pared gains after the release of the data. The Dow Jones Industrial Average futures pointed to a gain of 0.15%, S&P 500 futures rose 0.2%, while the Nasdaq 100 futures pointed to an increase of 0.3%.