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Durable goods sink in December

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Durable goods sink in December

Results miss estimates badly.

New orders for manufactured goods in December decreased $8.1 billion or 3.4% to $230.5 billion, the U.S. Census Bureau reported today. This followed a 2.1% decline in November.

Excluding transportation, new orders decreased 0.8%.

Analysts had estimated an increase in new orders of 0.5%.  Excluding transportation, analysts had estimated an increase of 0.6%.

The largest drop in orders was in commercial aircraft, which plunged 55%, although weakness was widespread.

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