Make Kitco Your Homepage

U.S. Orders Of Durable Goods Rise By 2.9% In December

Kitco News

(Kitco News) -Orders for durable goods in the U.S. rose in December for the fourth time in five months, this time climbing by 2.9%, the Commerce Department reported Friday.

Consensus expectations compiled by various news organizations called for durables to be up by somewhere between 0.6% and 0.9%.

Excluding transportation, new orders increased 0.6%. Excluding defense, they were up 2.2%. Transportation equipment, also up four of the last five months, led the increase, rising 7.4%.

The government’s durables report covers items with an expected life of at least three years, such as kitchen appliances, computers, furniture, autos and airplanes.

December’s tally was revised from a previously reported 1.3% gain to a rise of 1.7%.

Meanwhile, shipments of manufactured durable goods in December, up seven of the last eight months, increased or 0.6% following 1.3% increase in November.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.