Orders for durable goods in the U.S. took an unexpected hit in January, falling by 6.1%, exceeding economists' predictions of a 5% decline. The decline was attributed to a significant drop in orders for Boeing passenger planes. Excluding the volatile transportation sector, new orders experienced a milder decrease of 0.3% last month, Marketwatch reported.
Despite the overall decline, key measures of business investment remained stable, with core orders edging up by 0.1% in January, providing insight into the underlying performance of businesses. Commercial plane orders took a notable hit, plunging by 59%, reflective of Boeing's cyclical business patterns.
