Economy
January 27, 2017
Durable Goods Orders Surprise With Decline in December
Written by Sandy Williams
Durable goods orders had an unexpected drop in December, falling 0.4 percent from November. Economists at Wall Street Journal had anticipated a 2.3 percent increase in overall orders.
Defense related goods drove most of the decline with a 64 percent decrease in orders for defense aircraft. Orders minus transportation increased 0.5 percent. Core goods, nondefense capital goods minus aircraft, gained 0.8 percent for a third consecutive monthly increase and contributed to the 1.9 percent increase in fourth quarter GDP.
