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US factory orders up 1.8 percent in December

US factory orders up 1.8 percent in December

February 5th, 2013 in News

WASHINGTON (AP) -

U.S. factory orders increased in December even though companies trimmed their orders for goods that signal investment plans.

Factory orders rose 1.8 percent in December compared to November, when orders had fallen 0.3 percent.

But demand for core capital goods, a category considered a proxy for business investment plans, dipped 0.3 percent in December following strong gains of 3.3 percent in November and 3 percent in October.

Orders for durable goods, items expected to last at least three years, rose 4.3 percent, slightly below the 4.6 percent estimated in a preliminary report. The increase reflected strong gains for military and civilian aircraft.

Orders for non-durable goods such as petroleum products, chemicals and paper, declined 0.3 percent in December after a 1 percent drop in November. The weakness reflected declines in petroleum products.