Global growth, dollar, push durable goods orders up 2.9 pct | iNFOnews | Thompson-Okanagan's News Source

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Global growth, dollar, push durable goods orders up 2.9 pct

In this Friday, Oct. 27, 2017, photo, workers assemble Ford trucks at the Ford Kentucky Truck Plant in Louisville, Ky. On Friday, Jan. 26, 2018, the Commerce Department releases its December report on durable goods. (AP Photo/Timothy D. Easley)
January 26, 2018 - 5:46 AM

WASHINGTON - Orders for long-lasting manufactured goods rose 2.9 per cent in December, the fastest pace since June and another sign of strength for American industry, the Commerce Department said Friday.

Orders were lifted by a 15.9 per cent surge in demand for civilian aircraft and aviation parts, which can bounce around from month to month. Excluding the volatile transportation sector, orders increased 0.6 per cent in December.

Overall orders for durable goods, which are meant to last at least three years, have risen in four the last five months and were up 5.8 per cent for the full year 2017, best in six years.

Still, a category that measures business investment — orders for nondefense capital goods excluding aircraft — dipped 0.3 per cent in December.

American manufacturers are benefiting from a pickup in global economic growth and a weaker dollar, which makes U.S. goods less expensive in foreign markets.


--The Commerce Department upgraded the November increase in durable goods orders to 1.7 per cent from the 1.3 per cent gain it originally reported.

--Orders for computers dropped 4.4 per cent, second straight monthly drop.

--Machinery orders rose 0.6 per cent last month after being flat in November.

-- Orders for cars, trucks and auto parts rose 0.4 per cent, decelerating after gains of 2 per cent in November and 1.5 per cent in October.

News from © The Associated Press, 2018
The Associated Press

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