Tuesday January 6, 2009
Navivest

The Commerce Department today released its Factory Orders report for November 2008, revealing that orders for manufactured goods fell by much more than forecasted,

The report showed a drop of 4.6% or $18.7 billion, to $384.6 billion for the month, which was better, on a month over month basis, than the revised 6% decrease in October. Forecasters had been looking for a decrease of 2.6%.

November’s drop marks four consecutive months of declines in factory orders.

A huge drop in orders for non-durable goods was a major factor in the larger than expected decrease in factory orders, with orders for non-durable goods falling by 7.4% in November after falling 3.8% in October.

Tags: Factory Orders  Durable Goods