Durable goods orders rebound strongly in January

Washington

NEW orders for long-lasting US manufactured goods in January rose by the most in 10 months as demand picked up across the board, offering a ray of hope for the downtrodden manufacturing sector.

The Commerce Department said on Thursday that orders for durable goods, items ranging from toasters to aircraft meant to last three years or more, surged 4.9 per cent last month, reversing December's revised 4.6 per cent plunge.

January's increase was the largest since March. Economists polled by Reuters had forecast durable goods orders rebounding only 2.5 per cent in …