Partly reflecting a sharp drop in aircraft demand, the Commerce Department released a report on Thursday showing a substantial decrease in new orders for U.S. manufactured durable goods in the month of December.
The Commerce Department said durable goods orders plunged by 5.1 percent in December after falling by a revised 0.5 percent in November. Economists had expected orders to dip by just 0.6 percent.
Excluding a 12.4 percent decrease in orders for transportation equipment, durable goods orders still tumbled by 1.2 percent in December compared to a 0.5 percent drop in November.
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