November factory orders climbed 1.8%.Economists were expecting orders to rise 2.0%. Estimates ranged from 0.3% to 2.8%.
October’s factory orders were revised up to a decline of 0.2%. This compares to a previous reading of a 0.4% decline versus an expectation of a 0.3% decline at the time.
From the press release here:
New orders for manufactured goods in November, up following two consecutive monthly decreases, increased $8.2 billion or 1.8 per cent to $459.2 billion, the U.S. Census Bureau reported today. This followed a 0.2 per cent October decrease. Excluding transportation, new orders increased 0.3 per cent.
Shipments, up six consecutive months, increased $0.1 billion to $455.0 billion. This followed a 0.5 per cent October increase.
Unfilled orders, up nineteen of the last 20 months, increased $11.1 billion or 1.3 per cent to $898.3 billion. This followed a 0.4 per cent October increase. The unfilled orders-to-shipments ratio was 6.16, up from 6.07 in October.
Inventories, up 20 five of the last 20 six months, increased $2.8 billion or 0.5 per cent to $609.8 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.9 per cent October increase. The inventories-to- shipments ratio was 1.34, up from 1.33 in October.