New orders for key U.S.-manufactured capital goods increased more than expected in December and shipments of these products surged, cementing economists' expectations that business spending on equipment remained solid in the fourth quarter. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending, rose 0.6% after an upwardly revised 0.8% increase in November, the Commerce Department's Census Bureau said on Wednesday. Economists polled by Reuters had forecast these so-called core capital goods orders advancing 0.4% after a previously reported 0.4% gain in November. Shipments ... (full story)