U.S. Orders Of Durable Goods Rise By 2.9% In December
(Kitco News) -Ordersfor durable goods in the U.S. rose in December for the fourth time in fivemonths, this time climbing by 2.9%, the Commerce Department reported Friday.
Consensusexpectations compiled by various news organizations called for durables to beup by somewhere between 0.6% and 0.9%.
Excludingtransportation, new orders increased 0.6%. Excluding defense, they were up2.2%. Transportation equipment, also up four of the last five months, led theincrease, rising 7.4%.
Thegovernment's durables report covers items with an expected life of at leastthree years, such as kitchen appliances, computers, furniture, autos andairplanes.
December'stally was revised from a previously reported 1.3% gain to a rise of 1.7%.
Meanwhile,shipments of manufactured durable goods in December, up seven of the last eightmonths, increased or 0.6% following 1.3% increase in November.
By Allen SykoraFor Kitco News
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