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2026-02-18 21:36:42
[US Core Capital Goods Orders Rise 0.6% in December, Exceeding Expectations; Business Investment Remains Resilient] ⑴ Data released by the US Commerce Department on Wednesday showed that durable goods orders fell 2.2% month-over-month in December, mainly dragged down by a decline in transportation equipment orders. However, non-defense capital goods orders excluding aircraft (core capital goods orders) rose 0.6% month-over-month, higher than the market expectation of 0.4%, with the previous value revised upward to 0.8%. ⑵ Orders excluding transportation rose 0.9% month-over-month, far exceeding the expected 0.3%, with the previous value at 0.4%. Machinery orders rose 0.3%, and electrical equipment orders rose 0.6%, indicating robust demand in the basic sectors of manufacturing. ⑶ Defense-related orders performed strongly, with orders for defense aircraft and components rising 9.5% month-over-month. Durable goods orders excluding defense fell 2.5%. ⑷ Shipment data also improved. Durable goods shipments rose 1.0% month-over-month in December, compared to a previous value of -0.3%. Core capital goods shipments rose 0.9%, compared to a previous value of 0.2%. The rebound in shipments means that corporate investment activities are translating into actual production, providing support for the equipment investment component of fourth-quarter GDP.
