New orders for manufactured durable goods in December increased $6.7 billion or 3.1 percent to $221.9 billion, the U.S. Census Bureau announced today. This was the fourth increase in the last five months and followed a 2.2 percent November increase. Excluding transportation, new orders increased 2.3 percent. Excluding defense, new orders increased 3.9 percent.
These numbers jib with the Fed's industrial production figures for December.
Excluding transportation, the overall number has decreased each month for the last three months. This indicates how important Boeing is to the US economy.
There was a big drop in semi-conductors (down 22%), but semis increase big two months ago (up 29.2%). My guess is producers are still working off that inventory.
There was also a big drop in computers and related equipment (down 5.7%). Communication equipment dropped 10.7%,Considering how important technology is to the latest stock market rally, this does not bode well for the coming trading week.
We saw a good increase in auto production (up 5.8%). This is probably a production increase in anticipation of new models.
Thank-God foreign airlines are buying planes.
