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Economic Report: Factory orders rise sharply in January

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Orders for manufactured goods rose 1.4% in January, the Commerce Department said Thursday. 

Economists surveyed by the Wall Street Journal were expecting a 0.7% gain. 

Durable-goods orders rose 1.6%, unrevised from the initial estimate. Durable goods orders are up in eight of the last nine months.

Orders for nondurable goods were up 1.2% in the month. 

Orders for nondefense capital goods, excluding aircraft rose a revised 1% in January, up slightly from the prior reading of a 0.9% gain .

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