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Orders for U.S. Durable Goods Unexpectedly Slump

Bloomberg (01/28/14) Victoria Stilwell

Orders for durable goods declined by 4.3% in December, following a downwardly revised gain of 2.6% in November, according to the U.S. Department of Commerce. Economists surveyed by Bloomberg had forecasted a 1.8% increase in December. The slump increases the risk business investment may fall off early this year. Stagnant wages and inconsistent job gains are contributing to limited prospects for companies’ consumers.

Orders excluding transportation equipment declined 1.6% following a 0.1% increase in November.