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US factory orders fall 0.2% in November

by ChemOrbis Editorial Team -
  • 07/01/2016 (17:16)
According to data released by the US Commerce Department, US factory orders declined 0.2% in November, in line with economists’ expectations, after posting a revised increase of 1.3% in October.

The data revealed that orders excluding transportation fell 0.3% in November after increasing 0.1% in October while orders for non-defense capital goods excluding aircraft declined 0.3% following a decrease of 0.4% in the previous month.

Meanwhile, inventories of factory goods slipped 0.3%, declining for a fifth consecutive month in November.

This week, economists revised their fourth quarter growth expectations for the US economy downward by around 1% to 0.5%. In the third quarter, the US economy grew 2% on a yearly basis.
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