Demand for U.S durable goods increased in January by the most in a year

Source: Bloomberg
Demand for U.S hard goods that exclude transportation gear increased by 1.9% in January, the most within a year, pointing out that business investment is gaining momentum. Total orders plummeted 5.2%, well ahead of expectations, demonstrating the biggest drop of defense bookings per decade. Standard & Poor`s 500 Index rose 0.1% to 1,493.5 at 8:56 a.m. in New York.
"We expect demand to remain stable in North America as the economy here appears to be improving modestly. While Europe is still struggling, China appears to be improving from the lows of last year. We believe that this moderate growth will improve throughout the year and lead to a stronger second half," said Michael Larsen, chief executive officer of Gardner Denver Inc.

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