US factory orders gain momentum in January

ANKARA

US factory orders rose at a faster pace in January, according to the Commerce Department on Thursday.

New orders for manufactured goods went up by $7.6 billion, or 1.4%, to $544.2 billion.

While the expectation was an increase of 0.5%, December’s data was revised to $536.7 billion, or 0.7% increase.

New orders for manufactured durable goods also grew in the month.

Durable goods orders climbed $4.3 billion, or 1.6%, to $277.6 billion. They posted a 1.2% gain in December 2021.