WASHINGTON (Reuters) - New orders at U.S. factories rose a less-than-expected 2.3 percent in December, though it was the steepest gain since July, on strong aircraft sales, a government report showed on Monday.
Orders for durable goods, items intended to last three years or longer, jumped 5 percent, also the biggest gain since July, as civilian aircraft orders climbed 11.7 percent, the Commerce Department said. Durables orders were revised down from the 5.2 percent gain originally reported last week.
When transportation was stripped out, orders rose a more modest 0.7 percent.
U.S. stocks extended losses after the data. The Dow Jones industrial average was down about 90 points, or just over 0.7 percent, in early trading on the New York Stock Exchange.
Analysts polled by Reuters were expecting a 2.5 percent gain in factory orders and a 5 percent rise in durable goods orders.
Non-defense capital goods orders excluding aircraft, considered a gauge of business spending, climbed 4.5 percent, the largest increase since March. That was greater than the 4.4 percent rise previously reported.
Orders for machinery and computers and electronic products rose, while orders for primary metals and electrical equipment fell.
Nondurable goods orders fell 0.4 percent.
The inventories-to-shipments ratio climbed to 1.24, the highest level since September.
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