January durable goods orders jump 3.3 percent

January orders for durable goods posted the biggest monthly jump since July, the Commerce Department reported recently.

The department said new orders for durable goods -- those meant to last three or more years - advanced 3.3 percent in the month.

December durable goods orders were revised to a 0.4 percent decline from the previously reported 0.2 percent drop.

While the January gain was boosted by a sharp increase in transportation-related orders, the report showed broad strength in various categories of durable goods. Motor vehicle orders rose 10.7 percent, the biggest gain since April 2002. Analysts had been anticipating a smaller rebound from December's weakness.