Factory orders tumble 2.4% in November
Source: MarketWatch
Factory orders tumble 2.4% in November
Published: Jan 6, 2017 10:21 a.m. ET
Excluding the volatile transportation sector, orders ticked up 0.1%.
By Andrea Riquier
@ARiquier
https://twitter.com/ARiquier
Factory orders retreated in November, snapping a four-month winning streak, the Commerce Department said Friday.
The 2.4% decline was a bit stronger than the 2.3% forecast by economists surveyed by MarketWatch, but it followed an upward revision to Octobers gain, taking that to 2.8%. Compared to a year ago, orders were down 1.8%
Orders for durable goods slid 4.5%, while orders for nondurable goods were down 0.2%. ... Shipments declined 0.1% in November, as did unfilled orders. Inventories increased 0.2%.
Economists are hoping that the long slump in manufacturing will reverse as the shock to oil recedes.
Read more: http://www.marketwatch.com/story/factory-orders-tumble-24-in-november-2017-01-06