Durable Goods Orders Top Expectations

Durable goods orders excluding the volatile transportation sector jumped more than forecast, the Census Bureau reports Thursday.
By Shanthi Bharatwaj ,

NEW YORK (

TheStreet

) -- 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

SPDR Dow Jones Industrial Average ETF

(DIA) - Get Report

and the

SPDR S&P 500 ETF

(SPY) - Get Report

were down slightly in premarket trading, as investors digested a flood of reports.

--Written by Shanthi Bharatwaj in New York

>To contact the writer of this article, click here:

Shanthi Bharatwaj

.

>To follow the writer on Twitter, go to

http://twitter.com/shavenk

.

>To submit a news tip, send an email to:

tips@thestreet.com

.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

Loading ...