U.S. Factory Orders Rebound

Big-ticket durable goods increase 1.6%

Orders for U.S.- made factory goods rebounded 0.9% in November after slumping heavily in the prior month amid an economic slowdown, the Commerce Department said Jan. 4.

The bounce in November orders, however, did not meet the hopes of most Wall Street analysts who had anticipated a 1.4% rise in orders.

October factory orders were revised to a decline of 4.5%, compared with an original reading showing a dive of 4.7%.

Excluding the transport sector, orders were down 0.5% in November to mark their fourth monthly decline in a row. With defense orders stripped out, factory orders rose 0.1%, after falling a hefty 3.5% in the prior month.

New orders for big-ticket durable goods rebounded to 1.6% after plummeting a revised 8.1% in October.

Copyright Agence France-Presse, 2007

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