U.S. durable-goods orders sink 4.3% in December W
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Posted On: 01/28/2014 9:02:42 AM
U.S. durable-goods orders sink 4.3% in December
WASHINGTON (MarketWatch) – Orders for big-ticket U.S. goods sank 4.3% in December and posted the biggest drop since midsummer, largely because of fewer bookings for autos, large aircraft and military hardware, the government said Tuesday. Business investment outside of transportation and defense also softened and the increase in orders for November was trimmed. The disappointing report – economists expected a 1.8% increase in orders – could lead to a reduction in forecasts for fourth-quarter gross domestic product. Economists polled by MarketWatch had predicted a 3.3% increase in GDP, which will be released Thursday. Orders for large aircraft sank 17.5% in December and demand for autos fell 5.8%. Stripping out the volatile transportation sector, orders fell a smaller 1.6%, the Commerce Department said. Orders for core capital goods – a stand-in for business investment – fell 1.3% to mark the fourth decline in the past six months. Shipments of core capital goods, a category used to calculate GDP, dipped 0.2% in December. Core shipments have fallen in two of the past three months. Orders for November, meanwhile, were revised down to a 2.6% gain from a prior reading of a 3.4% increase.
WASHINGTON (MarketWatch) – Orders for big-ticket U.S. goods sank 4.3% in December and posted the biggest drop since midsummer, largely because of fewer bookings for autos, large aircraft and military hardware, the government said Tuesday. Business investment outside of transportation and defense also softened and the increase in orders for November was trimmed. The disappointing report – economists expected a 1.8% increase in orders – could lead to a reduction in forecasts for fourth-quarter gross domestic product. Economists polled by MarketWatch had predicted a 3.3% increase in GDP, which will be released Thursday. Orders for large aircraft sank 17.5% in December and demand for autos fell 5.8%. Stripping out the volatile transportation sector, orders fell a smaller 1.6%, the Commerce Department said. Orders for core capital goods – a stand-in for business investment – fell 1.3% to mark the fourth decline in the past six months. Shipments of core capital goods, a category used to calculate GDP, dipped 0.2% in December. Core shipments have fallen in two of the past three months. Orders for November, meanwhile, were revised down to a 2.6% gain from a prior reading of a 3.4% increase.
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