New orders for U.S.-made capital goods rose more than expected in November amid strong demand for machinery and primary metals, suggesting some of the oil-related drag on manufacturing was starting to fade.
The Commerce Department said on Thursday that non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, increased 0.9 percent after an unrevised 0.2 percent gain in October.
There were increases in orders for electrical equipment, appliances and components, as well as computers and electronic products. Economists polled by Reuters had forecast these so-called core capital goods rising 0.3 percent in November.