US: Durable Goods Orders rise by 1.6% MoM in January vs. 0.8% expected gain
- Headline and Core Durable Goods Orders rose at a faster than expected pace in January, with December figures also seeing positive revisions.
- This didn't seem to provoke a market reaction with focus more on geopolitics.
According to the latest release by the US Census Bureau, US Durable Goods Orders rose by 1.6% MoM in January compared to market expectations for a 0.8% rise in sales. That marked an acceleration versus December's 1.2% MoM pace of gain, which had seen a big revision higher from -0.7%. The more widely followed Core Durable Goods Orders growth rate was also stronger than expected at 0.7% MoM versus 0.4% consensus forecasts, with December's 0.9% MoM growth rate also being revised substantially higher from 0.6% previously.
Market Reaction
It does not seem as though FX or other markets have reacted to the latest tranche of US data, with focus much more on geopolitical developments for now.
Author
Joel Frank
Independent Analyst
Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset
