Durable-goods orders minus aircraft strong

WASHINGTON (MarketWatch) — Bookings for big-ticket U.S. goods slumped in January because of weaker demand for aircraft, but orders were generally strong in other areas of the economy.

Orders for durable goods sank 5.2% last month, the Commerce Department said Wednesday, mainly because of less demand for commercial and military aircraft. Orders for Boeing Co.jets soared in December but were virtually nil in January, reflecting the volatile nature of the aircraft business.

Economists polled by MarketWatch had forecast orders to slump 5.0% on the expectation of a sharp drop in demand for expensive jetliners. Commercial aircraft orders plunged 34% while motor-vehicle bookings were flat.

Excluding transportation items, orders for durable goods rose 1.9% and advanced for the fifth straight month. The increase was the strongest in more than a year, signaling that manufacturers continue to benefit from a slowly mending global economy, higher sales to American consumers and a pickup in business investment in the U.S.