Durable goods growth pace slows markedly in December

• December Durable Goods: +0.2% vs. +1.0% expected and +1.2% (revised from +0.9%).
• Marks the eight straight month of increases, albeit at a much slower pace.
• Core Durable Goods: +0.7% vs. +0.4% expected and +0.8% (revised from +0.4%).
• Shipments of manufactured durable goods in December, up seven of the last eight months, increased $3.5B or 1.4% to $253.8B. This followed a 0.4% November increase. Transportation equipment, also up seven of the last eight months, led the increase, $2.2B or 2.7% to $84.8B.
• Nondefense new orders for capital goods fell $1.4B, or 2.0%, to $70.3B in December; shipments increased $2.4B, or 3.3%, to $74.2B.
• Defense new orders for capital goods decreased $0.7B, or 5.3%, to $11.8B.