U.S. durable goods orders dip in December
However, orders for capital goods, a key barometre of investment trends in the economy, picked up a tad.
Durable goods orders dipped 0.4% month-on-month to reach $227.02bn, according to the Commerce Department.
Orders excluding the transportation sector grew 0.5% on the month $153.36bn, while excluding defence they were higher by 1.7% to $215.31bn.
The biggest drop was seen in orders for defence aircraft and parts, which fell by 63.9% to $2.75bn.
Orders for capital goods excluding those from defence and aircraft grew 0.8% over the month to $64.5bn (consensus: 0.5%), but were down by 3.4% over the year. ■