US durable orders ex-transportation surge in Nov

WASHINGTON, Dec 23 (BestGrowthStock) – New orders for U.S.
manufactured goods excluding transportation rose more than
expected in November, to record their largest gain in eight
months, according to a government report on Thursday that
pointed to continued strength in the manufacturing sector.

The Commerce Department said durable goods orders excluding
transportation increased 2.4 percent, the largest increase
since March, after a 1.9 percent drop in October. However,
overall orders dropped by a larger than expected 1.3 percent
last month, dragged down by a plunge in bookings for civilian
aircraft and motor vehicles.

Economists had expected orders excluding transportation to
rebound 1.6 percent last month and overall bookings to fall 0.5
percent.

Durable goods orders are a leading indicator of
manufacturing and latest report should help to allay fears
factory activity was slowing down.

The report also showed non-defense capital goods orders
excluding aircraft, a closely watched proxy for business
spending, rebounded 2.6 percent in November after dropping 3.6
percent the prior month. Economists had expected a 2.5 percent
increase.

Outside transportation, orders for computers and electronic
products increased by 5.8 percent, the largest gain since
February 2009. There were also strong gains in bookings for
primary metals, communications equipment and electrical
equipment, appliances and components.
(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

US durable orders ex-transportation surge in Nov