US durable goods decline less than expected in December

(Sharecast News) - US durable goods orders fell in December, according to delayed data from the Census Bureau, easing back after a strong gain the previous month.

New orders for manufactured durable goods declined 1.4% month‑on‑month, following an upwardly revised 5.4% jump in November, but smaller than the 2% fall expected by economists.

December's decline was driven largely by a 5.3% decline in transportation equipment, including a sharp 25.9% slump in non‑defence aircraft and parts.

Orders for capital goods were also weaker, down 3.9%, though there were increases in defence aircraft and parts, up 9.5%, and in computers and electronic products, which rose 3%.

Excluding transportation, durable goods orders rose 0.9%, beating forecasts for a 0.3% gain. Excluding defence, however, orders slipped 2.5% after a 6.6% rise in November. Non‑defence capital goods orders excluding aircraft increased 0.6%, following an upwardly revised 0.7% rise the previous month.





Reporting by Iain Gilbert at Sharecast.com