Factory orders up in December, continuing manufacturing's streak |
| Los Angeles Times - Feb 3, 2012 |
Another good sign for the economic recovery: U.S. factories are busily humming along, with manufacturing orders for commercial aircraft, machinery and autos up in December.
New investment in capital goods rose 1.1% to $466.2 billion, according to the Commerce Department. Orders had jumped 2.2% in November.
Transportation equipment alone was responsible for $58.3 billion worth of orders. Overall, orders spiked 12.1% in 2011 after rising 12.9% the year before. The $5.36-trillion total is just under the $5.44-trillion record set in 2008.
Some of the growth stems from investment tax breaks that expired at the end of 2011. Much of the rest is likely a result of companies trying to update or replace aging equipment.
Read Full Article from Los Angeles Times
- Posted: 2012-02-03 13:09:39
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