US durable goods orders surge in November

(Sharecast News) - Orders for newly manufactured durable goods registered their biggest monthly increase in more than three years in November, according to the Census Bureau. US durable goods orders surged by 5.4% month-on-month in November, reversing a 5.1% decline in October and easily beating market expectations for an increase of 2.2% for the biggest gain in durable goods orders since July 2020.

Transportation equipment, also up two of the last three months, led the increase, up 15.3% to $107.8bn, while excluding transportation, new orders increased 0.5%. Excluding defence, new orders shot up 6.5%.





Reporting by Iain Gilbert at Sharecast.com