New orders for U.S. manufactured durable goods pulled back by less than expected in the month of December, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said durable goods orders slumped by 1.4 percent in December after spiking by an upwardly revised 5.4 percent in November.
Economists had expected durable goods orders to tumble by 2.3 percent compared to the 5.3 percent surge that had been reported for the previous month.
Excluding a steep drop in orders for transportation equipment, durable goods orders increased by 0.9 percent in December after climbing by 0.4 percent in November. Ex-transportation orders were expected to rise by 0.3 percent.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
