U.S. factory orders rises 0.7 pct in November

08:18, January 05, 2011      

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New orders for U.S. manufactured goods rose 0.7 percent in November after a slight decline in October boosted by nondurable goods demand, indicating the ongoing bumpy economic recovery, the Department of Commerce reported on Tuesday.

Factory orders increased 0.7 percent to a seasonally adjusted 423.8 billion U.S. dollars in November, following a 0.7-percent decrease in October.

New orders for durable goods, big-ticket items expected to last at least three years such as computers, cars and machinery, dropped by 0.3 percent to 195.7 billion dollars in November.

Demand for transportation equipment, which accounts for more than a quarter of total durable goods demand, plummeted 11.1 percent to 46 billion dollars in November.

New orders for nondurable goods, including food, paper products, petroleum and coal products, rose by 1.7 percent to 228.2 billion dollars for the month.

The recovery of manufacturing sector has been a main engine of the U.S. economic growth in the past several quarters.

Source:Xinhua
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