Reply #22: U.S. Jan durable goods orders fell 5.3 pct [View All]

[UpInArms]

http://www.reuters.com/article/bondsNews/idUSN2742668020080227

WASHINGTON, Feb 27 (Reuters) - New orders for long-lasting U.S.-made manufactured goods fell by 5.3 percent in January, the biggest drop in five months and more than analysts expected, and a key gauge of business spending also declined, a Commerce Department report showed on Wednesday.

Nondefense capital goods orders excluding aircraft, a proxy for business investment, declined 1.4 percent, which was somewhat less than the 2.0 percent decrease Wall Street analysts were expecting.

For overall durable goods orders, analysts polled by Reuters forecast a 4.0 percent decline. It was the biggest monthly decrease since a matching decline last August.

The bigger-than-expected drop helped push the dollar lower in early trading against the euro and the yen.

The euro had already vaulted above the psychological $1.50 mark for the first time in its 9-year history, and traded at $1.5059 shortly after the report.

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