U.S. Factory Orders Up 1%
CBJ – Factory production and other manufacturing companies managed a surge of 1% growth in November, which followed a 1.3% gain in October. The figures are definitely positive indicators that, in spite of the ongoing global pandemic, manufactured goods are still in strong demand.
Manufactured orders for long-lasting durable goods rose 1%, as did non-durable goods.
Orders for non-defense capital goods, excluding aircraft, were up 0.5% for the month.
Business spending on equipment rebounded in the third quarter, ending five straight quarters of decline.
Manufacturing accounts for about 12% of the entire U.S. economy.