U.S. January durable goods orders increased
Orders ex transportation are expected to slip to 0.7% from 1.1%. Nondefense capital goods orders, the business investment proxy, are projected to gain 0.6% in January following December's 0.7% addition.
Overall retail sales climbed a remarkable 5.3% in January pulverizing the 1.1% forecast and reversing two months of decline.
Except for the two months of lockdown recovery in May and June, January's surge was the largest since October 2001 and the second most dramatic in three decades. ■