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New orders for manufactured durable goods in November increased by 2.5% in November.
Source: US Census Bureau
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Orders for non-defense capital goods, excluding aircraft, dropped 0.1% last month. These so-called core capital orders increased by 0.9% in October.
Shipments of core durable goods expanded 0.3% last month after increasing by 0.4% in October. Core capital goods shipments are used to compute equipment spending in the GDP computation.
Business spending on equipment slowed down in Q3 after four consecutive quarters of double-digit growth. A global shortage of semiconductors is hurting motor vehicle production.
Orders for durable goods, ranging from toasters to aircraft that are meant to last three years or more, expanded 2.5% last month after increasing 0.1% in October.
They were bolstered by a 6.5% increase in orders for transportation equipment and followed a 0.3% fall in October. Motor vehicle orders grew by 1.0% after bouncing back 5.8% in October.
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