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US Durable Goods Orders Rose More than Expected in December

According to the US Commerce Department, orders for durable goods in the United States rose 5.6% in December, surpassing expectations. These orders include items such as aircrafts, cars, and large machinery with a lifespan of three years or more. This marks the biggest monthly gain since July 2020 and a significant increase from the 1.7% plunge seen in November.

The December increase was driven by a surge in aircraft orders. In addition, durable goods orders for the entire year of 2022 saw a 10.5% increase compared to 2021. However, basic durable goods purchases, which exclude aircraft and weapons products, saw a 0.2% decrease in December. These numbers are considered an indication of business spending plans.

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