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News Summary: Orders for key US factory goods rise

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The Associated Press | February 27, 2013 01:12 PM EST | AP


BUSINESS CONFIDENCE: Orders for U.S. factory goods that signal business investment plans jumped last month by the most in more than a year, suggesting companies are confident about their business prospects.

AIRPLANES ORDERS PLUNGE: A sharp fall in demand for commercial aircraft caused overall durable goods orders to drop 5.2 percent, the first decline since August. Such orders are volatile and can cause large swings in the overall figure. Boeing reported orders for only two planes in January, down from 183 in December.

REBOUND: Even with the increase, orders have mostly just recovered last year's losses. Total core capital goods orders reached $67.7 billion in January, topping December 2011's level for the first time.