Mumbai, Feb. 19 -- New orders for U.S. manufactured durable goods pulled back by much less than expected in the month of December, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said durable goods orders slumped by 1.4 percent in December after spiking by an upwardly revised 5.4 percent in November.
The pullback by durable goods orders largely reflected a steep drop in orders for transportation equipment, which plunged by 5.3 percent in December after soaring by 15.2 percent in November.
Orders for non-defense aircraft and parts led the way lower, plummeting by 24.9 percent in December after skyrocketing by 98.2 percent in November.
Excluding orders for transportation equipment, durable g...