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U.S. Durable Goods Orders Surge Much More Than Expected In December
(RTTNews) - A report released by the Commerce Department on Thursday showed new orders for U.S. manufactured durable goods soared by much more than expected in the month of December.
The Commerce Department said durable goods orders spiked by 5.6 percent in December after tumbling by 1.7 percent in November.
Economists had expected durable goods orders to surge by 2.5 percent compared to the 2.1 percent slump that had been reported for the previous month.
Excluding a substantial rebound in orders for transportation equipment, durable goods orders edged down by 0.1 percent in December after inching up by 0.1 percent in November. Ex-transportation orders were expected to come in unchanged.
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