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The U.S. Commerce Department released durable goods orders data on Tuesday. The U.S. durable goods orders dropped 3.4% in December, missing expectations for a 0.5% increase, after a 2.1% decline in November. November's figure was revised down from a 0.9% decrease.
The decline was driven by falling orders for computers, metals and electrical equipment. Orders for computers plunged 10.4%, orders for primary metals fell 1.5%, orders for communications equipment declined 1.6% and orders for transportation gear decreased 9.2%.
Orders for motor vehicles rose 2.7%.
The U.S. durable goods orders excluding transportation fell 0.8% in December, missing expectations for a 0.5% gain, after a 1.3% decrease in November.
The U.S. durable goods orders excluding defence decreased 0.6% in December.
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