US durable goods orders up 0.8 pct., led by defence spending
WASHINGTON — Orders to U.S. factories for long-lasting goods rose at a modest pace last month, but the gain was driven entirely by demand for military aircraft. Excluding transportation equipment, orders fell.
The Commerce Department said Friday that durable goods orders rose 0.8 per cent in November, following a sharp fall of 4.3 per cent the previous month when orders for commercial and military aircraft plunged. Orders in November, excluding transportation, dropped 0.3 per cent. A category that reflects business spending plans declined 0.6 per cent, the third drop in four months.
The figures suggest that U.S. factory output, while mostly solid for now, may slow in the coming months. The Trump administration’s trade battles have caused many U.S. trading partners to impose tariffs on American goods. Exports of U.S. manufactured products fell sharply in the July-September quarter.
A weakening global economy is also weighing on exports. China’s economic growth is slowing and Germany, Europe’s economic engine, saw its economy shrink in the third quarter.