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Thursday, June 20, 2024
HomeNewsEconomyNew Orders for Durable Goods Gain 2.4% in December

New Orders for Durable Goods Gain 2.4% in December

Manufacture of rails for trains and freight wagon, boxcars. Rail manufacturing plant. Stack of steel round bar - iron metal rail lines material for industry construction in warehouse. (Photo: AdobeStock)

Durable Goods Orders Rose Nearly 5X the Consensus Forecast

The U.S. Census Bureau reported new orders for manufactured durable goods gained 2.4%, or $5.7 billion to $245.5 billion in December. That’s nearly five times the consensus forecast, and helped outweighs the downward revision in November.

Forecasts for new orders ranged from a low of 3.5% to a high of 2.5%. The consensus forecast was 0.5%, a still solid but far less gain.

While November was revised to -3.1%, new orders for durable goods are up two of the last three months.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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