29 January 2002, 16:34  US December durable goods orders were up 2.0%

WASHINGTON (MktNews) - The U.S. December durable goods orders data confirm that a recovery in manufacturing orders was underway by the end of 2001 but suggest that it was weak at best. December durable goods orders were up 2.0%, within expectations, and orders excluding defense gained 1.7% in their third good monthly rise. That is another proof that manufacturing was recovering by the end of the year. Orders excluding transportation also were up 1.4% in their third gain. Nondefense aircraft & parts soared 26.9%, and defense capital goods orders were up 10.8%. New orders were off 13.2% YOY in 2001 but were up 1.4% in Q4, also confirming the turnaround was in by year-end. The turn does not yet have legs: preliminary stage manufacturing was still weak as primary metals orders fell 0.5% in December after falling 0.4% in November. December shipments were up 0.5% and unfilled orders, a lagging indicator, fell 0.7%, showing there is still some slack at factories.

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