DURABLE GOODS ORDERS FELL 5 PERCENT IN DECEMBER

DURABLE GOODS ORDERS FELL 5 PERCENT IN DECEMBER

Orders for expensive durable goods fell sharply in December after two months of gains, the Commerce Department said Thursday.

The orders were dragged down by weaker demand for a broad range of items.December's 5 percent plunge in orders for big-ticket items ranging from planes to refrigerators was the biggest decline in more than a year and far exceeded economists' expectations of a 0.7 percent decrease.