Investing.com - U.S. durable goods orders fell less than expected in January, while core orders rose unexpectedly, easing concerns over the strength of the economy, official data showed on Thursday.
In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, declined by a seasonally adjusted 1% last month, compared to expectations for a 1.5% drop.
Orders for durable goods in December were revised to a 5.3% decline from a previously reported drop of 4.2%.
Durable goods are typically bulky or heavy products designed to last at three years, such as trains, computers or furniture.
Core durable goods orders, excluding volatile transportation items, increased by a seasonally adjusted 1.1% in January, compared to forecasts for a 0.3% decline. Core durable goods orders in December were revised to a 1.9% fall from a previously reported drop of 1.3%.
Orders for core capital goods, a key barometer of private-sector business investment, rose 1.7% last month, confounding expectations for a 0.2% decline and after falling 1.8% in December.
Shipments of core capital goods, a category used to calculate quarterly economic growth, dipped 0.8% in January, compared to forecasts for a 1% decline, after rising 0.3% in the preceding month.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.18% to trade at 1.3661.
Meanwhile, U.S. stock index futures pointed to a lower open. The Dow Jones Industrial Average futures pointed to a loss of 0.15%, S&P 500 futures indicated a decline of 0.15%, while the Nasdaq 100 futures signaled a flat open.