Durable Goods Orders Up 4.2%

Orders for durable goods, a major barometer of future economic activity, soared 4.2% in December due primarily to new commercial aircraft orders, the Commerce Department reported today.

The strong rise was the first increase since August and the best improvement since November, 1984, when orders for the “big ticket” items gained 8.2%. December orders overall were $108.164 billion, compared to $103.796 billion in November.