News Summary: Investment orders post strong rise

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Associated Press

Posted on March 6, 2013 at 12:37 PM

Updated Wednesday, Mar 6 at 12:37 PM

INVESTMENT ORDERS: U.S. orders for machinery and other factory goods that signal business investment surged in January, rising 7.2 percent from December, the biggest gain in more than a year.

FACTORY ORDERS: Total factory orders fell 2 percent in January but the decline was mostly due to a steep drop in volatile commercial aircraft and defense orders.

OUTLOOK: The big rise in demand for so-called core capital goods was viewed as an encouraging sign of business confidence in the economy. Some economists boosted their outlook for overall growth in the current January-March quarter based on the orders report.

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