U.S. factory orders recover strongly in November

Factory orders in the U.S. recovered strongly in November on sequential basis. Orders grew 1.3 percent, coming in above consensus expectations of 1.1 percent. Factory orders, stripping transportation rose 0.8 percent sequentially. The report released today also showed revisions durable goods orders data.

Growth in total durable goods orders stayed the same, but data on core capital goods orders and shipments were downwardly revised, with core shipments indicating a modest fall of 0.1 percent.

Overall, today’s report came in mixed. Manufacturers’ inventories were higher than expectations, thus boosting the fourth quarter inventories tracking estimate, noted Barclays in a research report. Meanwhile, downward revisions to core durable goods orders and shipments lowered the equipment and structures investment tracking estimates, stated Barclays.

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