U.S. durable goods orders increased $1.9 billion or 0.8% to $250 billion in December, missing the 1.4% consensus forecast.
This increase, up following two consecutive monthly decreases, followed a 4.3% October decrease.
Excluding transportation, new orders decreased 0.3%. Excluding defense, new orders decreased 0.1%. Transportation equipment, up three of the last four months, drove the increase, $2.5 billion or 2.9% to $87.0 billion.
Shipments of manufactured durable goods in November, up three of the last four months, increased $1.8 billion or 0.7% to $256.7 billion. This comes after a 0.4% decline in October.
Transportation equipment, also up three of the last four months, led the gain, rising $1.8 billion or 2.0% to $89.5 billion.
Revisions
Revised seasonally adjusted October figures for all manufacturing industries were: new orders, $502.7 billion (unchanged); shipments, $508.6 billion (revised from $508.4 billion); unfilled orders, $1,183.4 billion (revised from $1,183.6 billion) and total inventories, $682.1 billion (revised from $681.7 billion).
