November Factory Orders Fall More Than Expected

The drop in factory orders followed three consecutive monthly increases.
New Orders for Manufactured Goods Drops in February

New orders for manufactured goods totaled $543.3 billion in November 2022, down 1.8% from October 2022, according to data provided by the U.S. Census Bureau on Jan. 6.

It’s a significant drop that follows three consecutive monthly increases, including a 0.4% October increase. The 1.8% decrease outpaced the 0.8% drop economists polled by Reuters had forecast for November. Despite the month-to-month decrease, factory orders increased 12.2% year-over-year.

The decline in factory orders was led by a 6.3% drop in bookings for transportation equipment, following a 1.9% increase in October. Transportation equipment orders were wracked by a 36.4% plunge in orders for civilian aircraft, according to the data. Orders for defense aircraft also took a hit, falling 8.6%.

Source: U.S. Census Bureau

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