Durable goods drop in November

Manufacturing News, Source : TheManufacturer.com
Published : 02 Jan 2003 18:57

Contrary to economists’ predictions of a healthy 0.8% gain in November, orders for durable goods dropped approximately 1.4%, according to a recent Commerce Department report.

Excluding defense items, orders fell 2.3% in November. Inventories were down for the 22nd consecutive month and are at their lowest since 1995.

Orders for industrial machinery fell 3.2% in November. Computers and electronics were among the few sectors to experience an increase in demand during the month.

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