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- U.S. factory orders fall slightly less than forecast in November
U.S. factory orders fall slightly less than forecast in November
The U.S. Commerce Department reported on Tuesday that the value of new factory orders fell 0.7 percent m-o-m in November, following a revised 0.2 percent m-o-m gain in October (originally a 0.3 percent m-o-m advance).
Economists had forecast a 0.8 percent m-o-m decline.
According to the report, orders for transportation equipment tumbled 5.9 percent m-o-m in November after being unchanged m-o-m in October. Machinery orders decreased 1.2 percent m-o-m after gaining 0.8 percent m-o-m in October. Meanwhile, orders for electrical equipment, appliances and components rose 2.0 percent m-o-m.
Total factory orders excluding transportation, a volatile part of the overall reading, increased 0.3 percent m-o-m in November (compared to an upwardly revised 0.3 percent m-o-m growth in October), while orders for nondefense capital goods excluding aircraft, a measure of business spending plans, rose 0.2 percent m-o-m (instead of gaining 0.1 percent m-o-m as reported last month). The report also showed that shipments of core capital goods fell 0.3 percent m-o-m in November, the same as previously reported.
In y-o-y terms, factory orders decreased 0.7 percent in November.
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