A gauge of planned U.S. business spending rose in December, a sign that business worries over tighter fiscal policy may not have held back investment plans as much as feared at the end of 2012.
The Commerce Department said on Monday that non-defense 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.
Overall durable goods orders jumped 4.6 percent in December.
Economists expected new orders for long-lasting goods to increase 2.0 percent after rising 0.8 percent the previous month.