US Durable Goods decline by more than expected in November

By CountingPips.com

Economic news out of the U.S. today showed that new orders for durable goods decreased by more than expected in the month of November. Durable goods orders in the United States declined by 1.3 percent in November to a total of $193.7 billion following October’s revised 3.1 percent decrease, according to the report released by the U.S. Commerce Department today. November’s results marked the third decline out of the last four months.

Market forecasts had been expecting that durable goods orders would decrease by approximately 0.5 percent for the month.

Durable goods are products manufactured in the U.S. and considered to last more than three years.

New orders for durable goods excluding transportation rose by 2.4 percent in November following a revised decline of 1.9 percent in October. This data was better than the market forecasts which were predicting an increase of 1.8 percent for durables minus transportation for the month.

More report details:

• Shipments of durable goods decreased by 0.3 percent in November to a total of $195.8 billion

• Unfilled orders increased by 0.4 percent to a total of $825.7 billion.

• Durable good inventories increased for the eleventh consecutive month by 0.6 percent to a total of $319.1 billion

• November non-defense orders for new goods rose by 6.8 percent to a total of $66.1 billion

• Defense orders for capital goods increased by 16.3 percent to $8.8 billion.