US durable goods orders rise 1.3 percent in November
Orders for long-lasting manufactured goods rose last month by 1.3 percent, boosted by orders for both commercial and defense aircraft. A category that measures business investment slipped for the first time since June.
The increase in orders for durable goods – products meant to last at least three years — comes after a 0.4 percent decline in October, the Commerce Department said Friday. October’s drop followed solid gains in September and August.
American industry continues to look healthy, helped by an improving world economy and a lower dollar, which makes U.S.-made products less expensive to buy around the world.
Orders for commercial aircraft – a category that swings wildly from month to month — rose 14.5 percent in November. That comes on the heels of a 15.8 percent decline in October.
Excluding the volatile transportation category, orders fell 0.1 percent, the first downturn since a 0.4 decline in April.
What you need to know:
--October’s durable goods orders figure was upgraded; Orders fell 0.4 percent, better than the previously reported 1.2 percent decline.
--The category that tracks business investment fell 0.1 percent in November, its first negative reading since June.
--October’s reading for the business investment category was revised upward from a 0.5 percent decline to a 0.8 percent gain.
--Orders for defense aircraft also bounced back, up 11.9 percent after a 7.3 percent decline in October.
--Orders for machinery fell 1.1 percent, the biggest drop since a 1.4 percent decline in May of 2016.