Durable goods orders down 5.2 percent in January

Orders for durable goods plunged 5.2 percent in January, The U.S. Department of Commerce reported today. Analysts had expected a 2.5 percent decline.

Orders for autos fell 6.4 percent in January from the previous month. Primary metals orders fell 4.6 percent, and orders for fabricated metal products declined 1.1 percent.

Machinery orders fell 2 percent, and orders for computers and related products fell 16 percent. Electrical equipment, household appliances, and other components dropped 6.1 percent.