Aircraft boost US durable goods

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Orders for US durable goods rose by 3% in January, the biggest jump in six months, official figures have shown.

Analysts had expected orders to be 1.5% higher, but much of the gain came from a jump in bookings for aircraft, the Commerce Department said.

Excluding transportation, orders for big-ticket manufactured goods unexpectedly fell, dropping by 0.6%.

Durable goods orders are a leading indicator of manufacturing activity and the health of businesses.

Orders for commercial aircraft increased by a massive 126% from December.

Overall orders for transportation equipment rose 15.6%, although demand for motor vehicles and parts fell 2.2%.

"The manufacturing sector is enjoying a healthy rebound, driven by restocking and a sharp turnaround in world trade," commented Paul Ashworth, an economist at Capital Economics.