US durable goods orders up 1.2 percent in December

WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods posted a 1.2 percent advance in December, the best showing in four months, but much of the strength came from a surge in orders for commercial aircraft. In a worrisome development, a key category that tracks business investment fell for a second straight month.

The Commerce Department says the December advance in orders for durable goods followed a 1 percent rise in November which was revised up from an initial reading of 0.7 percent.

But orders for non-defense capital goods excluding aircraft, a closely watched category used as a proxy for business investment plans, fell 0.7 percent in December after a 1 percent drop in November. The strength in the overall number came from a 28.4 percent jump in commercial aircraft orders.