‘Big Ticket’ Orders Up 6.4%, Biggest Rise in 6 Months
Orders to factories for “big ticket” durable goods shot up 6.4% in December, the biggest increase in six months, the government reported today.
The Commerce Department said demand for durable goods, items expected to last three or more years, totaled a seasonally adjusted $130.85 billion in December.
The 6.4% jump was the biggest since an 8.7% increase recorded last June. It reflected widespread demand in both civilian and military categories.
The December orders figure closed out the year on a strong note, with orders for the last 12 months totaling $1.43 trillion, a 10.8% increase from 1987.
It was the best showing since a 12.3% increase in 1984. Orders had edged up a slight 1.2% in 1985 and 0.4% in 1986, two years in which American businesses were losing domestic and overseas sales.