Seasonally adjusted new orders for U.S. manufactured durable goods dropped in November despite positive forecasts and following a month of solid growth, advance data from the U.S. Census Bureau showed.
Durable goods orders slipped 2.0% to $242.63 billion in November from a revised $247.63 billion in October. The consensus estimate of economists polled by Econoday was for orders to advance 1.5%.
Excluding defense, new orders were up 0.8% month over month. Excluding transportation, new orders were unchanged.
Shipments of manufactured durable goods increased 0.1% to $251.60 billion following four consecutive monthly declines.
Unfilled orders slipped 0.4%, while inventories of manufactured durable goods were up 0.4% to $433.96 billion.