FOREX TradingCharts.com

Financial News: U.S. Durable Goods Orders Rebound More Than Expected

U.S. Durable Goods Orders Rebound More Than Expected In December

01/28/2020 - 09:11:00 (RTTNews)

(RTTNews) - New orders for U.S. manufactured durable goods rebounded by much more than anticipated in the month of December, according to a report released by the Commerce Department on Tuesday.

The report said durable goods orders surged up by 2.4 percent in December after tumbling by a revised 3.1 percent in November.

Economists had expected durable goods orders to rise by 0.5 percent compared to the 2.1 percent slump that had been reported for the previous month.

Orders for transportation equipment led the rebound, spiking by 7.6 percent in December after plunging by 8.3 percent in November.

The rebound in orders for transportation equipment came as orders for non-defense aircraft and parts soared by 168.3 percent, more than offsetting a continued nosedive in orders for non-defense aircraft and parts.

Excluding orders for transportation equipment, durable goods orders edged down by 0.1 percent in December after falling by 0.4 percent in November. Economists had expected a 0.2 percent uptick.

The unexpected dip in ex-transportation orders reflected decreases in orders for machinery, primary metals, and electrical equipment, appliances, and components.

The report also said orders for non-defense capital goods, excluding aircraft, a key indicator of business spending, slid by 0.9 percent in December after inching up by 0.1 percent in November.

Shipments in the same category, which is the source data for equipment investment in GDP, fell by 0.4 percent in December following a 0.3 percent decrease in the previous month.

"Business equipment investment appears to have followed the 3.8% annualized decline in the third quarter with another modest fall in the fourth," said Andrew Hunter, Senior U.S. Economist at Capital Economics. "Nevertheless, we still think overall GDP growth was a reasonably solid 1.9% annualized."

He added, "And the sharp fall in corporate borrowing costs in recent months, easing of trade uncertainty and improvement in the capex intentions surveys all suggest that equipment investment will start to rebound before long."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Drops Much More Than Initially Estimated In March (10 hr(s), 08 min(s), 30 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. deteriorated by much more than initially estimated in t ...Full Story»

U.S. Personal Income Climbs More Than Expected In February (10 hr(s), 28 min(s), 30 sec(s) ago)
(RTTNews) - The Commerce Department released a report on Friday showing personal income in the U.S ...Full Story»

U.S. Personal Income Climbs 0.6% In February (12 hr(s), 11 min(s), 30 sec(s) ago)
(RTTNews) - The Commerce Department released a report on Friday showing personal income in the U.S ...Full Story»

Ireland Retail Sales Fall For Second Month (13 hr(s), 23 min(s), 30 sec(s) ago)
(RTTNews) - Ireland's retail sales declined for the second straight month in February, data fr ...Full Story»

Latvia Retail Sales Growth At 10-Month High (13 hr(s), 29 min(s), 30 sec(s) ago)
(RTTNews) - Latvia's retail sales grew to the highest in ten months in February, figures from ...Full Story»

Austria's Manufacturing Activity Contracts In March (13 hr(s), 57 min(s), 30 sec(s) ago)
(RTTNews) - Austria's manufacturing sector shrank in March as the fallout from the coronavirus ...Full Story»

Iceland Inflation Slows In March (15 hr(s), 0 min(s),30 sec(s) ago)
(RTTNews) - Iceland's consumer price inflation eased in March after rising in the previous mon ...Full Story»

French Consumer Sentiment Weakens Slightly (15 hr(s), 13 min(s), 30 sec(s) ago)
(RTTNews) - French consumer confidence weakened only slightly in March, survey results from the st ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Drops Much More Than Initially Estimated In March

03/27/2020 - 10:41 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. deteriorated by much more than initially estimated in t ...Full Story>>

U.S. Personal Income Climbs More Than Expected In February

03/27/2020 - 10:21 AM (RTTNews)
(RTTNews) - The Commerce Department released a report on Friday showing personal income in the U.S ...Full Story>>

U.S. Personal Income Climbs 0.6% In February

03/27/2020 - 08:38 AM (RTTNews)
(RTTNews) - The Commerce Department released a report on Friday showing personal income in the U.S ...Full Story>>

Ireland Retail Sales Fall For Second Month

03/27/2020 - 07:26 AM (RTTNews)
(RTTNews) - Ireland's retail sales declined for the second straight month in February, data fr ...Full Story>>

Latvia Retail Sales Growth At 10-Month High

03/27/2020 - 07:20 AM (RTTNews)
(RTTNews) - Latvia's retail sales grew to the highest in ten months in February, figures from ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.