US durable goods orders rise 5.3pc in November

(Sharecast News) - US durable goods orders rose 5.3% in November, according to the Census Bureau, bouncing back from a revised 2.1% decline in October and beating expectations for a more modest 3.7% increase. November's gain was primarily due to a sharp rebound in transportation equipment orders, which surged 14.7% following a 6.3% drop in October, driven by a 97.6% surge in civilian aircraft bookings.

Elsewhere, orders rose for electrical equipment, appliances and components, up 1.7%, while orders for fabricated metal products rose 1%, machinery orders were 0.5% higher, and computers and electronic products orders increased 0.2%.

Excluding transportation, however, new orders ticked up just 0.5% after a 0.1% gain in October. Orders excluding defence shot up 6.6%, reversing a 1.3% decline in October.







Reporting by Iain Gilbert at Sharecast.com