US factory orders up 1.8% in DecemberMonday 04 February 2013 15.23
US factory orders increased in December despite the fact that companies trimmed their orders for goods that signal investment plans.
The US Commerce Department said today that factory orders rose 1.8% in December compared to November, when orders had fallen 0.3%.
Demand for core capital goods, a category considered a proxy for business investment plans, dipped 0.3% in December after strong gains of 3.3% in November and 3% in October.
Orders for durable goods, items expected to last at least three years, rose 4.3%, slightly below the 4.6% estimated in a preliminary report.
The increase reflected strong gains for military and civilian aircraft. Orders for non-durable goods such as petroleum products, chemicals and paper, declined 0.3% in December after a 1% drop in November.