After surging in November, durable goods orders in the USA stabilized in December, whereas the market was expecting them to rise.

The Commerce Department reported on Thursday that orders were virtually unchanged last month, and revised the November figure upwards to show an increase of 5.5%, rather than 5.4% as initially announced.

Economists were forecasting a 1.1% increase in orders last month.

Excluding transport, orders rose by 0.6%, whereas the market was expecting a 0.2% gain.

Orders for durable goods excluding defense, considered a good barometer of business investment, rose by 0.5%.

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