new orders for durable goodsproducts meant to last at least three yearsincreased sharply 56 in december to a seasonally adjusted 2869 billion the commerce department said thursday demand for durable goodswhich include factory equipment computers and washing machinesrose primarily on aircraft orders orders for civilian aircraft and parts rose 1155 the department said excluding transportation new orders fell 01 in december from the prior month the december gain came after a revised 17 decrease in november that monthly decline in overall durablegoods orders was the steepest drop in 2022 for all of 2022 orders rose 105 from the prior year the figures measure demand from businesses and consumers and also reflect rising prices orders figures arent adjusted for inflation consumer price increases eased last month for the sixth time in a row but remain historically high a closely watched proxy for business investmentnew orders for nondefense capital goods excluding aircraftdecreased 02 to 749 billion in december compared with the previous month the commerce department said the federal reserve raised interest rates at an aggressive pace last year and is likely to continue increasing rates in 2023 as it tries to tame high inflation though at a slower pace given recent signs of slowing price increases higher interest rates can make bigticket purchases more expensive for businesses and consumers