‘Big Ticket’ Factory Orders Dive

Orders to U.S. factories for “big ticket” durable goods plunged 2.8% in January, the biggest decline in a year.

The Commerce Department reported today that orders for durable goods, items expected to last at least three years, totaled a seasonally adjusted $112.23 billion in January, down $3.28 billion from the December level. The weakness came from two primary sources, a setback in transportation and orders for primary metals such as steel, two categories which had posted unusually large increases in December.