Durable goods orders placed with manufacturers in the U.S. surged in the first month of the year to reverse a decline to close 2010, while a drop in jobless claims boosted hopes that the recovery is strengthening, according to Bloomberg. On Thursday, the Commerce Department reported that durable goods orders increased 2.7% in January, which was roughly in line with economists’ forecast after a 0.4% decrease in December. The gain was driven by a big increase in aircraft, although orders excluding transportation equipment were seen 3.6% lower on the month, surprising economists looking for a 0.5% gain.

John Herrmann of State Street Global Markets said, “The manufacturing sector continues to be a main driver of the economy,” forecasting for “moderate growth” in the coming months. Spending on capital equipment dropped 6.9%, raising questions about business spending growth. However, a separate report from the Labor Department showed that in the week ending Feb. 19., initial claims for jobless benefits in the U.S. dropped by 22,000 to 391,000, outpacing economists’ forecast and marking the lowest level since July 2008.

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