The U.S.
Commerce Department announced on Friday that the value of new factory orders increased
0.2 per cent m-o-m in December 2023, following an unrevised 2.6 per cent m-o-m surge in November.
Economists had forecast
a rise of 0.2 per cent m-o-m for December.
According to
the report, orders for durable goods were flat m-o-m in December, while orders for nondurable goods climbed by 0.4 per cent m-o-m.
Total factory
orders excluding transportation, a volatile part of the overall reading, jumped
0.4 per cent m-o-m (compared to an upwardly revised 0.2 per cent m-o-m gain
(from +0.1 per cent m-o-m) in November), while orders for nondefense capital
goods excluding aircraft, a measure of business spending plans, increased 0.2 per
cent m-o-m (compared to a 0.9 per cent m-o-m advance in November and instead of rising 0.3
per cent m-o-m as reported last month).