News Summary: US durable goods orders up

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Associated Press

Posted on January 28, 2013 at 5:06 PM

Updated Monday, Jan 28 at 6:00 PM

ORDERS UP: U.S. demand for long-lasting manufactured goods rose 4.6 percent in December on strong gains for volatile aircraft orders.

BUSINESS INVESTMENT SLOWS: Orders that signal business investment plans edged up just 0.2 percent. That followed 3 percent gains in November and October.

OUTLOOK: Business investment rebounded at the end of 2012 after slowing earlier in the year. Most economists expect demand to weaken again this year, mostly because Americans are paying higher Social Security payroll taxes without much gain in wages.

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