U.S. durable goods orders excluding transportation — a closely watched gauge of underlying business investment demand — slowed in January 2026, rising 0.4% month-over-month after a stronger 1.0% gain in December 2025. The latest data, updated on 18 March 2026, points to a moderation in core factory orders at the start of the year.
The measure, often referred to as “core” durables because it strips out the volatile transport component, compares the change in January’s orders to December’s level, while the prior 1.0% figure reflected December’s increase versus November. The deceleration suggests that while demand for longer-lasting goods remains positive, the pace of expansion in U.S. manufacturing and capital spending has eased slightly heading into 2026.
For markets and policymakers, the softer 0.4% reading may indicate a more measured investment environment after a stronger year-end surge, with investors likely to watch upcoming releases for confirmation of whether January marks the start of a trend or a temporary pause in momentum.
