Durable goods orders fall again in November
New orders for long-lasting manufactured goods fell 1 percent in November, a less severe drop than anticipated though it followed a steeply revised plunge in October orders, according to the Commerce Department
The Department estimates that October orders plummeted by 8.4 percent instead of 6.9 percent it previously reported, for the biggest monthly decline since a 14 percent drop in July 2000.
The fall in November orders was less than the 3 percent decline that analysts surveyed by Reuters had forecast.
Much of November’s overall orders drop was concentrated in transportation equipment, where orders fell 7.4 percent after a 12.7 percent October decline. Excluding transportation, orders in November were up 1.2 percent after falling 6.8 percent in October as orders rose in November for computers, machinery and fabricated metal products.
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