US durable goods orders rise 1.3 per cent in November

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407c752dc1ac1f5704d657e4116ad9e1 US durable goods orders rise 1.3 per cent in November

In this Thursday, Nov. 9, 2017, photo, Ford assembly line worker Paul Collins works on a Focus at the Michigan Assembly plant in Wayne, Mich. On Friday, Dec. 22, 2017, the Commerce Department releases its November report on durable goods. (AP Photo/Carlos Osorio)

Orders for long-lasting manufactured goods rose last month by 1.3

per cent
, boosted by orders for both commercial and

defence
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

per cent
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

per cent
in November. That comes on the heels of a 15.8

per cent
decline in October.

Excluding the volatile transportation category, orders fell 0.1

per cent
, 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

per cent
, better than the previously reported 1.2

per cent
decline.

–The category that tracks business investment fell 0.1

per cent
in November, its first negative reading since June.

–October’s reading for the business investment category was revised upward from a 0.5

per cent
decline to a 0.8

per cent
gain.

–Orders for

defence
aircraft also bounced back, up 11.9

per cent
after a 7.3

per cent
decline in October.

–Orders for machinery fell 1.1

per cent
, the biggest drop since a 1.4

per cent
decline in May of 2016.

Source

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