Factory Orders Up 1.8 Percent
January 4, 2012 by UPI - United Press International, Inc.
WASHINGTON, Jan. 4 (UPI) — U.S. factory orders rose from October to November but came up shy of expectations, the U.S. Census Bureau reported Wednesday.
Factory orders rose 1.8 percent or by $8.2 billion, short of the 2 percent rise economists predicted.
With plane maker Boeing reporting multibillion-dollar orders, transportation items provided the lion’s share of the upward push. Orders for transportation items rose by $7 billion or 14.7 percent to $54.4 billion.
With transportation items excluded, new orders rose 0.3 percent. In total, orders rose to $459.2 billion.
Shipments, up six consecutive months, rose by $100 million to $455 billion after rising 0.5 percent in October. Inventories, up 25 of the past 26 months, rose by $2.8 billion or 0.5 percent to $609.8 billion.
New orders for durable goods — goods expected to last three years — rose by 3.8 percent to $207.1 billion, climbing for the fourth month of the past five. Orders for non-durable goods rose by 0.3 percent to $252.1 billion.