Factory orders continued their solid advance in December, up another 1.0% on top of their 1.0 percent gain in November and 0.8% percent gain in October. The advance is strong in durable goods and non-durable goods, both up 1.0%. Perhaps most encouraging is a capital goods reading that also shows strength in the month. Thursday’s report underscores strong momentum for the manufacturing sector going into the New Year. Additionally, on Monday accelerating momentum was observed in the ISM manufacturing report on business for January.
Shipments also continue to rise — jumping 1.9%, which adds to a 1.6% rise in November and October’s 0.9% gain.
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