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US durable goods orders fall in December

New orders for US manufactured durable goods fell 4.3 per cent in December, dragged down in part by declines in orders for aircraft and autos, official data released Tuesday showed.

WASHINGTON: New orders for US manufactured durable goods fell 4.3 per cent in December, dragged down in part by declines in orders for aircraft and autos, official data released Tuesday showed.

Durable goods orders fell to $229.3 billion in December, the second monthly decline in the past three months, the Commerce Department said.

In November, orders had climbed 2.6 per cent.

The December drop surprised analysts who on average expected orders to increase 2.1 per cent.

Excluding transportation, which tend to be volatile month-over-month, durable goods orders fell 1.6 per cent.

Excluding defence equipment, orders fell 3.7 per cent.

Orders for transportation equipment, which also have fallen in two of the last three months, dived 9.5 per cent, led by a 17.5 per cent plunge in orders for non-defence aircraft and parts.

Orders for motor vehicles and parts fell by 5.8 per cent.

Despite weakness in the latter part of the year, durable goods orders were up 4.9 per cent in 2013 from 2012. Excluding transportation, orders were up 3.5 per cent.

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