Factory orders increase 2.3% in December, in-line with estimate
Posted by: in Stocks Money NewsFiled under: Industry, Economic data
U.S. factory orders increased in December 2007 — a sign that business spending remains resilient even as employers pull-back regarding hiring plans.
Factory orders increased 2.3% in December 2007, in-line with the 2.3% consensus estimate, the U.S. Commerce Department announced Monday, in a statement. Factory orders rose a revised 1.7% in November 2007. Excluding transportation orders, factory orders increased 0.7% in December 2007.
Durable goods orders drove factory orders — increasing 5% in the month. Orders for nondurable goods fell 0.4%; machinery increased 7.3%, and electronics rose 4.1%
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