WASHINGTON — New factory orders for manufactured goods increased 1.0% in December, the fourth consecutive increase and the eighth increase in nine months, the Commerce Department reported today.
Orders excluding transportation rose 1.2% following a 2.1% increase in November, revised higher from a 1.1% gain initially reported. In November all orders were revised up to a 1.0% increase from the initially reported 0.6% gain.
Economists expected factory orders would rise 0.5% for the month, according to the median estimate from Thomson Reuters.
December’s durable goods orders rose for the first time since September, gaining 1.0%. Orders in November declined 0.4%.
Unfilled orders fell 1.0% extending a streak of monthly declines to 15 months. It is the longest steak of consecutive unfilled orders declines on records dating back to 1992.
Inventories decreased 0.1% following two consecutive monthly increases. The inventories-to-shipments ratio fell to 1.29 from 1.32 in November.
