U.S. durable goods orders continued their recent volatility in November, following a slumped October with its largest one-month gain since July 2020.
The Census Bureau’s monthly advance report issued Dec. 22 showed that new orders for manufactured durable goods rose 5.4% in November to $295.4 billion, following October’s revised 5.1% decline (from 5.4%). As its best performance in 28 months, the November figure topped consensus market expectations of a 2.0% to 2.2% gain.
That monthly difference has risen or fallen by between 4.0% and 5.6% in five of the past six months.
Transportation equipment — up two of the past three months — led the increase with a 15.3% jump vs. October. Excluding transportation, new orders increased 0.5%.
Orders for defense capital goods were the only weak spot in November, falling 12%. Excluding defense, new orders increased 6.5%.
Core capital-goods orders — which omit defense and transportation and are seen as a barometer for broader business investment — rose 0.8% last month after a 0.6% fall in October.
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