Market news
07.01.2020, 15:25

U.S. factory orders fall slightly less than forecast in November

The U.S. Commerce Department reported on Tuesday that the value of new factory orders fell 0.7 percent m-o-m in November, following a revised 0.2 percent m-o-m gain in October (originally a 0.3 percent m-o-m advance).

Economists had forecast a 0.8 percent m-o-m decline.

According to the report, orders for transportation equipment tumbled 5.9 percent m-o-m in November after being unchanged m-o-m in October. Machinery orders decreased 1.2 percent m-o-m after gaining 0.8 percent m-o-m in October. Meanwhile, orders for electrical equipment, appliances and components rose 2.0 percent m-o-m.

Total factory orders excluding transportation, a volatile part of the overall reading, increased 0.3 percent m-o-m in November (compared to an upwardly revised 0.3 percent m-o-m growth in October), while orders for nondefense capital goods excluding aircraft, a measure of business spending plans, rose 0.2 percent m-o-m (instead of gaining 0.1 percent m-o-m as reported last month). The report also showed that shipments of core capital goods fell 0.3 percent m-o-m in November, the same as previously reported.

In y-o-y terms, factory orders decreased 0.7 percent in November.

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