Orders for durable goods rose 4.6% in December on top of a .7% gain in November. Taking out the volatile transportation sector reveals a 1.3% gain in orders.
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Estimates by 76 economists surveyed by Bloomberg called for a 2% overall increase. Estimates were quite wide, ranging from an increase of 1.4% to 4.5%.
Stock market futures are holding their gains
after the report.
In another report, the Fed is likely to continue its easy monetary policy during its meeting this week.
December meeting minutes indicated that not all Fed officials were on board with continuing the monthly bond purchases.
There will likely be discussions of how long to continue the program as officials consider the unknown economic effects that could result from the unprecedented action.