News Summary: US factory orders up 1.8 pct in Dec

News Summary: US factory orders up 1.8 percent in December, demand for investment goods down

Associated Press

MORE FACTORY WORK: U.S. factory orders increased 1.8 percent in December from November when orders had fallen 0.3 percent.

AIRPLANES AND GASOLINE: Orders for durable goods, items expected to last at least three years, rose 4.3 percent, reflecting 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.

DISTRESSING NUANCE: 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.

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