Factory Orders Surged a Surprising 1.5% In November
New orders at U.S. factories surged a bigger-than-expected 1.5 percent in November on a big
rise in orders for nondurable goods, a government report showed on Wednesday.
Analysts polled by Reuters were expecting factory orders to climb 0.7 percent.
Orders for durable goods, items intended to last three years or longer, fell a downwardly revised 0.1 percent, the fourth consecutive monthly decline in that category, the Commerce Department said.
Durable goods orders, which were originally reported to have gained 0.1 percent, were dragged
down by declines in orders for machinery, electronic products, and defense equipment.
Nondurable goods orders - which include food, textiles, paper, and chemicals -- jumped 3 percent. It was the steepest rise in that category since March 2005.
Non-defense capital goods excluding aircraft, considered a reliable gauge of business investment, fell a revised 0.1 percent. That decline had originally been reported as a 0.4