Factory Orders Down 3.3% In November

New orders for manufactured goods decreased 3.3% -- or $11.1 billion -- to $321.7 billion in November, making it the fifth decrease in the last six months, the Department of Commerce's Census Bureau reported Jan. 8. This drop followed a 7% increase in October. Year to date, new orders for 2001 are 7.9% below the same period a year ago. Shipments also were down, dropping $1.9 billion, or 0.6%, to $327 billion following a 2.3% increase in October. Shipments of durable goods increased 0.2% but were more than offset by a 1.6% decline in nondurables. Unfilled orders declined $5.3 billion, or 0.9%, to $551.2 billion after rising 0.7% in October. Inventories declined for the 10th consecutive month, down 0.9%, or $4.2 billion, to $453.1 billion.

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