US factory orders exceed expectations in December

The US Commerce Department said today that US factory orders rose 1.1% in December after rising 1.3% in November, and analysts had expected US factory orders to rise 0.7% in December.

On an annual basis, US factory orders fell 6.6% in the 12 months to December compared to the same period last year, and unfilled factory orders fell 0.3% in December. Capital goods orders rose 0.7% in December versus 0.6% in November, and shipments of core capital goods used to calculate business equipment spending in the GDP report rose 0.7% in December.