US Durable Goods Orders Remained Below Expectation in December

Durable goods orders in the US remained below expectations in December. Orders increased moderately, at 0.2 percent.

Durable goods orders in the US remained below expectations in December. Although the orders in question increased below expectations with 0.2 percent, they maintained their increasing trend for 8 consecutive months. Durable goods orders increased by 0.2 percent in December 2020, below expectations, according to data released by the US Department of Commerce. The decline in commercial aircraft orders was effective in the lower than expected orders. Orders continued to rise in the 8th month, despite a moderate increase. Capital goods orders excluding non-defense aviation, known as core capital orders, increased by 0.6 percent in the period in question. The median expectation of economists surveyed by Bloomberg increased by 0.5 percent, and the November data was revised positively. This increase above expectations and the latest shared data point to a faster than expected recovery in the manufacturing sector. Orders increased by 0.7 percent, excluding transportation, with an increase of 0.8 percent in the previous month. On the other hand, the fourth quarter growth data, which will be announced tomorrow by the government, is expected to be announced as 4.2 percent annualized. The economy, which had its worst performance since the 1940s in previous quarters due to the epidemic, recovered in the third quarter of 2020 and broke a record by experiencing a growth of 33.4 percent.