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- U.S. factory orders grow less than expected in December
U.S. factory orders grow less than expected in December
The U.S. Commerce Department reported that the durable goods orders rose 1.2 percent m-o-m in December, following a revised 1.0 percent m-o-m gain in November (originally a 0.8 percent m-o-m advance).
Economists had forecast a 1.5 percent m-o-m increase.
According to the report, transportation equipment (+3.3 percent m-o-m) drove the increase. Meanwhile, orders for durable goods excluding transportation edged up 0.1 percent m-o-m, following a 0.2 percent m-o-m drop in November and missing market expectations of a 0.3 percent m-o-m gain.
Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, dropped 0.7 percent m-o-m in December, after declining 1.0 percent m-o-m in November.
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