Orders for U.S. durable goods rose more than forecast in December, led by demand for aircraft, autos and business equipment that signals further manufacturing gains.
Bookings (DGNOCHNG) for goods meant to last at least three years climbed 3 percent after a revised 4.3 percent gain the prior month that was more than previously estimated, data from the Commerce Department showed today. Economists projected a 2 percent increase, according to the median forecast in a Bloomberg News survey. Demand picked up for machinery, metals and communications equipment.
Gains in consumer and business spending, coupled with lean inventories, may keep driving production in coming months and spur the expansion. Sustained demand from China, Brazil and other emerging economies may also help shield U.S. factories from a slowdown in Europe stemming from its sovereign debt crisis.
