US durable goods orders jump most since March

The data released by the US Commerce Department showed orders for all durable goods - items meant to last at least three years – rose 4.9%, bettering the estimated rise of 2.5% following Dec’s 5% drop.

Bookings for non-military equipment excluding commercial aircraft jumped 3.9%, more than forecast, after a 3.7% decrease in December.

Shipments of non-defense capital goods excluding aircraft, which are used in calculating gross domestic product, decreased 0.4%, following an upwardly revised 0.9% reading in December.

The Commerce Department is set to issue its second estimate of fourth-quarter GDP on Friday.