After reporting a notable increase in new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Wednesday showing a modest pullback in orders in November.
The report said factory orders edged down by 0.2 percent in November after jumping by 1.3 percent in October. The modest decrease matched economist estimates.
The pullback partly reflected a continued decrease in orders for non-durable goods, which fell by 0.4 percent in November after dipping by 0.2 percent in October.
The Commerce Department also said durable goods orders were revised to show a slight decrease in November compared to the previously reported virtually unchanged increase. Durable goods orders jumped 2.8 percent in October.
Orders for transportation equipment came in roughly flat in November after surging up by 7.6 percent in the previous month.
The report also said shipments of manufactured goods rose by 0.2 percent in November following a 0.7 percent decrease in October.
Meanwhile, inventories of manufactured goods dropped for the fifth straight month, falling by 0.3 percent in November after edging down by 0.2 percent in October.
The inventories-to-shipments ratio subsequently dipped to 1.35 in November from an upwardly revised 1.36 in October.
The material has been provided by InstaForex Company – www.instaforex.com