Economy
December 28, 2019
Durable Goods Orders Miss Expectations in November
Written by Sandy Williams
Orders of durable goods in November declined at their sharpest rate since May, falling 2.0 percent after a downward revision to October’s data. Economists were expecting orders to rebound by more than 1.0 percent in November.
A boost in transportation orders was anticipated due to the ending of the GM strike. Orders for autos and parts, however, fell short of expectations with just a 1.9 percent increase, not nearly enough to offset a 72.7 percent decline in orders for defense aircraft and parts, Census reported. Overall, transportation orders dropped 5.9 percent. Excluding transportation, orders were virtually flat.
