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Orders for Durable Goods Down in December

Durable goods orders fell for the fifth consecutive month in December, the Commerce Department reported, capping a disappointing year in which demand for big-ticket items fell by the largest amount since the recession year of 2001. The Commerce Department said that new orders for durable goods dropped 2.6% in December and 5.7% for all of 2008. There were declines in demand last month for commercial aircraft, primary metals, machinery and computers. Orders for defense aircraft and electrical appliances were among the few areas showing increased demand. Orders for all transportation products grew 0.6%, but that stemmed from a 16.4% jump in demand for military aircraft. Orders for commercial aircraft were down a whopping 43.6%, while demand for motor vehicles and parts fell 5.2%.

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Date Last Updated: 02/09/2009