Durable goods orders disappoint

The latest reading of durable goods orders from the Commerce Department fell short of expectations.

The reading for the month of December fell by 0.4% month-over-month, much lower than the 2.5% growth that economists were expecting.

Core durable goods, excluding autos and transportation equipment, rose 0.5%, right in line with expectations. Excluding defence goods, orders rose 1.7%, ahead of the 0.2% that economists were anticipating.

The reading on orders for long-lasting goods bounced back slightly after falling by 4.6% in November, with core goods staying steady at 0.5% growth.

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