Orders to U.S. factories posted a big gain in December, far exceeding expectations and adding to evidence that the manufacturing sector is supporting the economic recovery.
The Commerce Department reported today that orders rose by 1 percent last month, double the 0.5 percent forecast by economists surveyed by Thomson Reuters. The advance was the eighth increase in the past nine months.
It was led by big gains in orders for metals such as steel and aluminum, as well as machinery. However, orders for transportation equipment as well as computers and electronics dipped slightly.
