Durable Goods Orders Top Expectations
NEW YORK (
) -- New orders for durable goods declined in November, the Census Bureau said early Thursday.
Durable goods orders fell 1.3% in November after falling 3.1% in October. Economists were expecting orders to drop 1.1%, according to
Briefing.com
.
Excluding the volatile transportation sector, durable goods orders jumped more than forecast by 2.4%. Economists were expecting durable goods excluding transportation to rise 0.8%, according to consensus estimates from
Briefing.com
.
Durable goods orders serve as an indicator of manufacturing growth. Manufacturing has been leading the economy out of the recession.
The
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and the
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were down slightly in premarket trading, as investors digested a flood of reports.
--Written by Shanthi Bharatwaj in New York
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