New orders for long-lasting manufactured goods in the United States edged lower in December, though the drop was not as steep as analysts had anticipated, according to fresh data from the Commerce Department released Wednesday.
Durable goods orders declined 1.4% during the month, following a sharp upwardly revised surge of 5.4% in November. Economists had projected a steeper 2.3% contraction, compared with the previously reported 5.3% gain for November.
Stripping out the volatile transportation category, orders actually strengthened. Core durable goods bookings rose 0.9% in December after a 0.4% increase the prior month. That reading topped expectations, as economists had forecast a more modest 0.3% rise.
The data suggest underlying manufacturing demand remained resilient at year-end, even as large swings in transportation equipment orders weighed on the headline figure.