In January, orders of core capital goods (nondefense capital goods excluding aircraft) rose 1.7 percent compared with December and were virtually unchanged from their year-ago level. Shipments of core capital goods declined 0.8 percent in January compared with the previous month, pointing to a sluggish start in 2014 for equipment spending. Unusually severe winter weather may have slowed shipments.

Core Capital Goods, year-over-year percent change, seasonally adjusted