Durable goods increase 0.2%
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Manufacturing News, Source : TheManufacturer.com
Published : 28 Jan 2003 22:31
Manufacturer’s new orders for durable goods increased 0.2% during December, following a revised drop in November of 1.3%, the Commerce Department stated in its latest report.
The figures fell short of analysts’ predictions of a 0.9%. Excluding defense, orders dropped 0.2%. Non-defense capital fell 0.1%, following a drastic 3.1% decrease in November. Orders for computer equipment rose 3.2%, the largest increase since July, and orders for computers and related products rocketed 12.1%.
The report shows us that capital spending was sluggish in the fourth quarter and not providing much momentum going into the first quarter of this year, said Rick Egleton, deputy chief economist of Toronto-based BMO Financial Group.
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