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Thursday / June 17.
HomeSummarized NewsU.S. factory orders beat expectations in November

U.S. factory orders beat expectations in November

  • New orders for U.S.-made goods increased more than expected in November
  • The Commerce Department said on Wednesday that factory orders rose 1.0% after increasing 1.3% in October.
  • Economists polled by Reuters had forecast factory orders increasing 0.7% in November. Orders fell 7.3% year-on-year.
  • The Commerce Department also reported that orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans on equipment, advanced 0.5% in November instead of 0.4% as reported last month.
  • Shipments of core capital goods rose 0.5%. They were previously reported to have increased 0.4%.
  • The economy grew at a 33.4% rate in the July-September quarter after contracting at a 31.4% pace in the second quarter, the deepest since the government started keeping records in 1947.

Read the FULL article over at Whatfinger by clicking here

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