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US durable goods orders fall

New orders for US manufactured durable goods fell for a second straight month in January, depressed by a sharp drop in civilian aircraft orders, official data released on Thursday showed.

WASHINGTON: New orders for US manufactured durable goods fell for a second straight month in January, depressed by a sharp drop in civilian aircraft orders, official data released on Thursday showed.

New durable goods orders fell 1.0 percent in January, extending December's 5.3 percent tumble, the Commerce Department said.

Excluding transportation equipment, a typically volatile sector, new orders increased 1.1 percent.

Civilian aircraft orders plunged 20.2 percent, while orders for motor vehicles dropped 2.2 percent

The fall in durable goods orders was slightly less than expected. Analysts had expected ex-transportation orders to dip 0.3 percent.

On a year-over-year basis, January orders were up 2.4 percent.

"Despite downward revisions to December data and January's ho-hum reading, the trend in core capital goods data still signals growth in business investment," said Tyler Case of Moody's Analytics.

Orders are up 12.3 percent at an annualised rate over the past three months, while shipments are up 7.9 percent, he noted.

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