Durable goods orders stumble, but consumers perk up

Consumer confidence hit a five-month high in January and house prices posted their biggest year-on-year gain in almost eight years in November, other reports showed on Tuesday. Durable goods orders dropped 4.3 percent in December, weighed down by weak demand for transportation equipment, primary metals, fabricated metal products, computers and electronic products and capital goods. Economists polled by Reuters had expected orders for durable goods - items from toasters to aircraft meant to last three years or more - to rise 1.8 percent in December after November's previously reported 3.4 percent advance. Those concerns, however, were tempered by the rise in consumer confidence and house prices.

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