US durable goods orders jumped in January

WASHINGTON (AP) — Orders to U.S. companies for long-lasting manufactured goods advanced in January at the strongest pace in 10 months. Moreover, a key category that tracks business investment surged by the largest amount in 19 months.

The bigger-than-expected gains could be a sign of better days ahead for the nation's beleaguered manufacturers.

Orders for durable goods, items ranging from autos and appliances to steel and machinery, rose 4.9 percent last month, the Commerce Department reported today. That represented a rebound from a 4.6 percent plunge in December and a 0.5 percent decline in November.

Demand in a category that serves as a proxy for business investment plans rose 3.9 percent in January, reversing a 3.7 percent fall in December. It was the biggest advance in this category since June 2014.

The overall increase was led by a 54.2 percent surge in demand for commercial aircraft, a very volatile category that can swing sharply from month to month depending on orders to Boeing. Demand for defense aircraft and parts also increased in January, rising 84.8 percent. Orders for autos and auto parts rose 3 percent, as automakers continued to enjoy strong demand.