United States Durable Goods Orders

New orders for manufactured durable goods in the US decreased 1.1% month-over-month to $285.1 billion in November 2024, following an upwardly revised 0.8% rise in October and much worse than market forecasts of a 0.4% decline. Transportation equipment led the decline, down 2.9%. Excluding transportation, durable goods fell 0.1%. Orders were also lower for capital goods (-2.6%), fabricated metal products (-1.6%) and computers and electronic products (-0.7%). In contrast, orders increased for machinery (1%) and primary metals (0.7%). Meanwhile,, orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, were up 0.7%, the biggest rise since August 2023, rebounding from a 0.1% fall in October.