Wall Street Journal (12/23/15) Ben Leubsdorf; Josh Mitchell

Orders for durable goods were flat in November and a key measure of business investment declined, signalling lackluster demand in the U.S. manufacturing sector. New orders for durable goods were largely unchanged in November from October on a seasonally adjusted basis, according to the U.S. Department of Commerce. Economists polled by the Wall Street Journal had forecast orders would decline 0.6%.

Military spending helped shore up the November reading. Orders for defense capital goods rose 44.4% in November including a 46.9% increase in orders for defense aircraft and parts. Excluding defense, orders for durable goods declined 1.5% in November after increasing 3.0% in October. Excluding the transportation sector, durable goods declined 0.1% in November from the prior month after rising 0.5% in October.

Orders for nondefense capital goods excluding aircraft dropped 0.4% in November from October after rising by a downwardly revised 0.6% in October.

Wall Street Journal (12/23/15) Josh Mitchell; Ben Leubsdorf

Consumers increased their spending in November as their incomes rose, a sign the economic expansion remains on track. Personal spending increased 0.3% in November from October, according to the U.S. Department of Commerce. Spending was flat in October after increasing 0.2% in September. Personal incomes rose 0.3% in November after climbing 0.4% in October. Economists polled by the Wall Street Journal had forecast spending would rise 0.3% and income would increase 0.2%.

Federal Reserve Bank of Richmond (12/22/15)

Manufacturing activity increased modestly in the Mid-Atlantic states, according to the Federal Reserve Bank of Richmond. The composite index rose nine points to a reading of 6. The index for shipments flattened, ending at 0, while the index for new orders climbed 14 points to a reading of 8.

Manufacturing employment increased moderately this month to a reading of 12. Furthermore, the average workweek lengthened; the index added 10 points to end at a reading of 7. Average wages rose at a moderate pace; the index added 11 points to finish at a reading of 17.