January Durable Goods Orders Rise 3.3%

Orders for durable goods in the United States rebounded in January, rising 3.3% a report by the Commerce Department said Thursday.

The increase in orders for durable goods, or goods meant to last at least three years, broke a string of two straight declines, Commerce said. In December, orders fell 0.4% and in November, they dipped 1.2%.

Disregarding orders for transportation equipment, the number of durable goods orders rose 2.5%, the report showed.

The rise in orders, analysts told Bloomberg, indicates that businesses are restocking inventories that have been drawn down by consumer sales.

Analysts told Bloomberg that manufacturing “clear was rebounding” in January.

The durable goods report was tempered by a report on weekly unemployment claims by the Labor Department.

During the week ended Feb. 22, states received 417,000 new claims for unemployment benefits – 11,000 higher than the previous week, Labor said.

The four-week moving average, a statistical device used to remove the volatility from the weekly reports, rose to 399,750 from 394,750 the week before.