New orders for U.S.-manufactured durable goods ticked up in January, buoyed by a rise in orders for transportation equipment, an advance report from the U.S. Census Bureau showed.
Seasonally adjusted new orders rose 0.1% to $500.48 billion in January from the revised $500.14 billion in December 2018. The Econoday consensus estimate was for a 0% month-over-month change.
Transportation equipment drove the overall monthly rise in durable goods orders with 1.2% growth to $91.03 billion from December 2018's revised $89.92 billion. Excluding this category, new orders were down 0.2%.
New orders for nondefense aircraft and parts rose 15.6% month over month in January, while orders for ships and boats declined 12%.
Shipments related to durable goods industries edged down 0.5% to $257.88 billion in January from the revised $259.20 billion reported in the previous month.
Unfilled orders ticked up 0.1% month over month in January, while inventories were up 0.5%.