Durable-Goods Demand Points to U.S. Factory Pickup

Orders for durable goods in the U.S. rose in December for an unprecedented fourth consecutive month, indicating manufacturing will keep improving in 2013.

Bookings for goods meant to last at least three years advanced 4.6 percent, exceeding the highest forecast of economists surveyed by Bloomberg, after a 0.7 percent gain in November, a Commerce Department report showed today in Washington. Other figures signaled sales of existing homes may cool, restrained by a lack of inventory.