Durable Goods Orders Up 2.5% in December
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WASHINGTON — Orders to U.S. factories for durable goods rose for the second consecutive month in December, the government said Friday in a report analysts said indicates that the sluggish manufacturing economy is stabilizing.
The Commerce Department said orders for durable goods--big-ticket items expected to last more than three years--increased 2.5% to a seasonally adjusted $133.5 billion in December after gaining 4.9% in November.
But the manufacturing sluggishness through much of 1989 was reflected in the report’s figures for the entire year: Although orders were up 5.9% to $1.52 trillion, they advanced at their slowest pace since a 0.4% gain in 1986. Orders increased 10.9% in 1988.
DURABLE GOODS
Billions of dollars, seasonally adjusted Dec., ‘89: 133.5 Nov., ‘89: 130.7 Dec., ‘88: 132.1 Source: Commerce Department
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