U.S. manufacturing, housing data buoy economic outlook

Orders for long-lasting U.S. manufactured goods surged in November and a gauge of planned business spending on capital goods recorded its largest increase in nearly a year, pointing to sustained strength in the economy. "We are coming out of the shadows of the Great Recession in many ways," said Robert Dye, chief economist at Comerica in Dallas. The Commerce Department said durable goods orders jumped 3.5 percent last month as demand increased for a range of goods from aircraft to machinery and computers and electronic products. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, surged 4.5 percent.

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