US factory orders drop more than expected in November 2024
New orders for manufactured durable goods drop 1.2% from month ago
By Tuba Ongun
US factory orders fell 0.4% in November, compared to the previous month, slightly faster than expected, according to Commerce Department figures released Monday.
New orders for manufactured goods, which measure the change in the value of new purchase orders placed with manufacturers, decreased to $$586.1billion.
The figure reversed a 0.5% hike in October.
New orders for manufactured durable goods in November dropped by 1.2%, led by transportation equipment which slipped 3% from a month ago.
New orders for manufactured non-durable goods, meanwhile, increased 0.4%.
Excluding transportation, factory orders rose by 0.2% during the same period.
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