New orders for durable goods fell in December, according to a report released moments ago by the US Census Bureau. The decline was $4.6 billion, or 1.4%, to $319.6 billion, compared to a 5.4% increase in November. This figure was better than market expectations, which had anticipated a 1.8% drop. Core orders, excluding transportation, rose 0.9% in December, compared to a 0.5% increase in November (expectations had anticipated a 0.3% rise).

Specifically, new orders excluding defense fell by approximately 2.5%, with the transportation equipment sector being the main driver of this decline. New orders reached $6.4 billion, a 5.3% decrease compared to a 14.7% increase in November, bringing the total to $113.5 billion. Meanwhile, shipments of industrial durable goods rose by 1%.