New orders for U.S.-made goods increased in November for a fourth
straight month, but business spending on equipment appeared to be
cooling after robust growth in 2017.
Factory goods orders jumped 1.3 percent amid rising demand for transportation and electrical equipment, the Commerce Department said on Friday. October’s report was revised to show orders advancing 0.4 percent instead of the previously reported 0.1 percent dip.
Orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans, fell 0.2 percent in November instead of slipping 0.1 percent as reported last month.
The overhaul of the tax code, the most sweeping in 30 years, slashed the corporate income tax rate to 21 percent from 35 percent. Robust business spending, recent weakness in the dollar and a strengthening global economy are boosting manufacturing, which makes up about 12 percent of the U.S. economy.
In November, orders for machinery fell 1.0 percent after rising 2.8 percent in October. But orders for transportation equipment rebounded 4.1 percent after declining 4.0 percent in October. Orders for electrical equipment, appliances and components rose 0.6 percent.
Factory goods orders jumped 1.3 percent amid rising demand for transportation and electrical equipment, the Commerce Department said on Friday. October’s report was revised to show orders advancing 0.4 percent instead of the previously reported 0.1 percent dip.
Orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans, fell 0.2 percent in November instead of slipping 0.1 percent as reported last month.
The overhaul of the tax code, the most sweeping in 30 years, slashed the corporate income tax rate to 21 percent from 35 percent. Robust business spending, recent weakness in the dollar and a strengthening global economy are boosting manufacturing, which makes up about 12 percent of the U.S. economy.
In November, orders for machinery fell 1.0 percent after rising 2.8 percent in October. But orders for transportation equipment rebounded 4.1 percent after declining 4.0 percent in October. Orders for electrical equipment, appliances and components rose 0.6 percent.
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