WASHINGTON — Orders for durable goods jumped 4.6 percent in December, while a gauge of future business spending also rose, a sign that corporate worries over tighter fiscal policy at the end of 2012 may not have held back investment plans as much as feared.
The Commerce Department said on Monday that overall durable goods orders jumped 4.6 percent, more than expected.
In addition, nondefense capital goods orders excluding aircraft, a closely watched proxy for investment plans, edged higher 0.2 percent. The government also revised higher its estimate for November.
Analyst estimates for goods orders averaged around 2 percent.
Separately, the National Association of Realtors said contracts to buy previously owned homes in the United States unexpectedly fell in December after three months of gains.
The trade group said its Pending Home Sales Index, based on contracts signed last month, dropped 4.3 percent to 101.7.
The drop in contracts, which the Realtors group blamed on the tightening stock of homes, suggested resales could fall again in January after slipping in December.
“The supply limitation appears to be the main factor holding back contract signings in the past month,” said Lawrence Yun, the group’s chief exonomist. “Supplies of homes costing less than $100,000 are tight in much of the country, so first-time buyers have fewer options.”
The NAR expects sales of previously owned homes to increase 9 percent this year after a similar gain in 2012.
Home resale contracts were down in three of the country’s four regions last month. They increased in the Midwest.
U.S. Durable Goods Orders Exceed Estimates
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