US durable goods orders fall in January

US durable goods orders fall in January

New orders at US factories for durable goods sank 0.9% in January 2005, led by the biggest drop in demand for transportation equipment since August 2004, the US Commerce Department said today. Reduced demand for aircraft and automobiles in January offset increases for goods such as electronics equipment and military hardware. Excluding transportation equipment, orders rose 0.8% last month.