Market Updates
Weakness In Transportation Dented November's New Durable Goods Orders Growth
Brian Turner
23 Dec, 2024
Washington, D.C.
New orders for manufactured durable goods in November, down three of the last four months, declined from the previous month, led by the weakness in transportation orders.
New orders decreased $3.0 billion, or 1.1%, from the previous month or fell 1.3% from a year ago to $285.1 billion, the U.S. Census Bureau announced today.
This followed a 0.8% October increase.
Excluding transportation, new orders eased 0.1%; excluding defense, new orders fell 0.3%.
Transportation equipment orders, also down three of the last four months, drove the decline with a fall of $2.9 billion, or 2.9%, to $95.5 billion.
However, closely watched proxy for business spending, non-defense capital goods excluding aircraft advanced 0.7%, the fastest increase since August 2023, and reversing the fall of 0.1% in October.
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