US durable goods orders remain stable in November
by ChemOrbis Editorial Team - content@chemorbis.com
According to data from the US Commerce Department, durable goods orders tracked a mostly stable trend in November after increasing 2.9% in October. Economists’ initial estimates called for a decrease of 0.6% in a survey by the Wall Street Journal. Meanwhile, the Commerce Department also reported that US durable goods orders declined 3.7% in the first eleven months of this year compared with the same period of 2014.
Data showed that orders for defense capital goods surged 44.4% in November including a 46.9% gain in orders for defense aircraft and parts. Excluding defense, orders for durable goods fell 1.5% in November following an increase of 3.0% in October. Durable-goods orders excluding transportation, meanwhile, fell 0.1% on the month in November after rising 0.5% in October.
US manufacturing activities have been dragged down by lower oil and gas prices, weak global demand and a strong dollar, which reduces demand for US exports and enhances the competitiveness of imported goods.
Data showed that orders for defense capital goods surged 44.4% in November including a 46.9% gain in orders for defense aircraft and parts. Excluding defense, orders for durable goods fell 1.5% in November following an increase of 3.0% in October. Durable-goods orders excluding transportation, meanwhile, fell 0.1% on the month in November after rising 0.5% in October.
US manufacturing activities have been dragged down by lower oil and gas prices, weak global demand and a strong dollar, which reduces demand for US exports and enhances the competitiveness of imported goods.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Early reactions to Turkey’s dumping case on Saudi Arabian LDPE
- October PET deals concluded with moderate increases in Europe
- Will it be supply or demand to set PP, PE outlook in Europe?
- Premium of HDPE over LLDPE hits 16-month high in Turkey
- Post-holiday hikes carry China homo-PP market to 1-year high
- Asia PVC markets see longest rising streak ever on extreme tightness
- Africa polymers: October offers higher amid reduced availability
- Stable to softer PE trend prevails in Europe amid soft demand, poor netbacks
- Turkey’s PP and PE markets move up, but riddled with uncertainties
- India, SEA PVC markets unlikely to take respite from bullish run for November
