New orders for manufactured durable goods increased $8.7 billion or 3.1% in January to $286 billion, the U.S. Census Bureau said in its most recent advance report. The increase followed a 1.8% decrease in December. Excluding transportation, new orders were virtually unchanged. Excluding defense, new orders increased 3.5%. Transportation equipment led the increase, $8.6 billion or 9.8% to $96.5 billion.
ABA offers fixes for small-business lending data collection rule
In a letter, ABA said it is pleased with the CFPB's proposal to revise its small-business lending data rule and offered several recommendations to reduce the compliance burden for banks.