Stock Groups

U.S. factory orders increase strongly in November -Breaking

[ad_1]

© Reuters. FILE PHOTO A worker uses a metal-cutting machine at Gent Machine Co.’s Cleveland, Ohio factory, U.S.A, May 26, 2021. REUTERS/Timothy Aeppel

WASHINGTON (Reuters] – While U.S. goods orders grew in November, business spending on machines likely declined in the fourth-quarter.

On Thursday, the Commerce Department reported that November saw factory orders rise 1.6%. To show that orders rose 1.2%, instead of 1.0% in October as originally reported, the Commerce Department updated its data.

Reuters polled economic experts to predict factory orders rising 1.5%. Year-on-year, the order growth was 12.9%.

Businesses replenishing inventories are supporting manufacturing, which makes up 11.9% of the economy.

Both electronic and transportation equipment saw increases in their orders. Machine orders fell, as well as those for appliances, components, and electrical equipment.

Some signs are beginning to show that labor and raw material shortages may be decreasing. On Tuesday, an Institute for Supply Management survey showed the Institute for Supply Management’s measure of input prices by factories declined by their highest level in ten years in December.

After a 2.0% increase in October, the November shipment of manufactured goods saw a 0.7% rise. The inventories at factories increased 0.7%. After gaining 0.3%, unfilled orders rose 0.7%.

Commerce Department also stated that the Commerce Department’s orders for nondefense capital goods (excluding aircraft) were not reduced by 0.1%, as was reported last month.

The November report reported that the shipment of core capital goods (which are used for calculating business equipment expenditure in the gross domestic products report) rose by 0.3%.

The third quarter saw a decrease in business equipment spending after four consecutive quarters with double-digit economic growth.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]