Durable goods orders tank in December 2014

FXStreet (Mumbai) - The official data in the US released today showed Durable goods orders in Decemeber unexpectedly contracted by 3.4% month-on-month, missing the expected rise of 0.5%, and down from the previous month’s downwardly revised fall of 2.7%.

Transportation led the decline in December, dropping 9.2%. The Durable goods orders-ex transportation also registered a contraction of 0.8%, compared to the downwardly revised 1.3% fall in November. On similar lines, Capital goods non-defense orders fell 0.6%, compared to the downwardly revised 0.6% in November.