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International Business Times
International Business Times
Business
Luke Funk

December Durable Goods Orders Much Lower Than Expected In December

New orders for manufactured durable goods decreased $6.3 billion or 2.2 percent in December.

The consensus expectation before the release on Tuesday morning was a 0.2 percent increase.

Orders have been down four of the last five months and sat at an estimated $276.1 billion in December, the U.S. Census Bureau announced.

There was a 2.0 decrease in November.

The numbers were skewed by problems at Boeing. A strike at two factories in Washington halted production for nearly two months and impacted deliveries at the end of the year.

Transportation equipment drove the decrease in durable orders, down $6.9 billion or 7.4 percent to $86.1 billion.

Excluding transportation, new orders increased 0.3 percent.

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