Factory Orders Increase By 1.0% In December

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With orders for durable goods increasing by much more than previously reported, the Commerce Department released a report on Thursday a showing stronger than expected increase in new orders for manufactured goods in December.

The reported showed that orders for manufactured goods increased by 1.0 percent in December following a matching increase in November. Economists had been expecting factory orders to increase by 0.5 percent compared to the 1.1 percent increase originally reported for the previous month.

With orders for durable goods increasing by much more than previously reported, the Commerce Department released a report on Thursday a showing stronger than expected increase in new orders for manufactured goods in December. (Market News Provided by RTTNews)