Manufacturing momentum is accelerating again. While civilian aircraft added huge lift to December durable goods orders, the gains were broad based. New factory orders for durable goods in December jumped a whopping monthly 4.6 percent, following a boost of 0.7 percent in November.
The market forecast was for only a 1.6 percent increase. The transportation component on the index spiked 11.9 percent. Excluding transportation, durable goods orders increased 1.3 percent, following a rise of 1.2 percent in November. The consensus called for a 0.4 percent rise in orders excluding transportation.
Outside of transportation, the index increases were led by primarily metals, up 3.6 percent, and computers & electronics, up 3.3 percent. Also rising were fabricated metals and machinery.
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