–November Durables Goods New Orders Revised Up To -0.3% (Prev -1.3%)
By Kevin Kastner
WASHINGTON (MNI) – The value of new factory orders rose 0.7% in
November, a better-than-expected rise due to an upward revision to the
drop in durable goods orders and a solid nondurables orders increase,
data released by the Commerce Department Tuesday morning showed.
Analysts in a Market News International survey had expected factory
new orders to hold steady in November.
Durable goods orders were revised up to a 0.3% decline
for the month from the original 1.3% decline reported earlier, while
nondurable goods orders rose 1.7%.
Petroleum and coal products shipments, which are equivalent to new
orders in this data, jumped 4.2% in November, likely due to higher
prices.
Transportation orders fell 11.1% in the current report, a slightly
better result than the previously reported 11.9% decline.
Total factory orders excluding transportation rose 2.4%, with
strength in other durables components.
Overall factory shipments rose 0.8% in November. Nondefense capital
goods shipments rose only 0.1%, but were up 1.1% when aircraft shipments
were excluded.
Factory inventories rose 0.8% in November, while unfilled orders
rose 0.6%.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
