Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Durable Goods Orders Fall in November
Dec 24, 2002
 Printable format
 Email this Article
 Search

U.S. durable goods orders fell in November as demand weakened for a wide range of long-lasting manufactured goods, the government said in a report on Tuesday.

Orders for durable goods -- items intended to last 3 years or more -- slid 1.4 percent in November after a revised 1.7-percent rise in October, the Commerce Department said.

The report, which showed drops in orders for most categories of durable goods, was much weaker than expected on Wall Street, where economists were looking for a 0.7 percent gain. The dollar dropped on the data.

Non-defense capital goods orders excluding aircraft -- viewed as a proxy for business capital spending -- fell 2.2 percent in November, the Department said. The decrease followed a revised 5.9-percent October gain that had raised hopes a long slump in business investment was easing.

A collapse in spending by businesses on plants and equipment, which had boomed in the 1990s, led the economy into recession last year and a turnaround in this area is seen as crucial for a sustained recovery.

Economists said the report reflected the uncertainties corporations face over the possible economic impact of a potential U.S. war with Iraq.

The report showed sharp drops in demand for civilian aircraft and autos that pulled orders for transportation equipment down by 1.6 percent in November. But even excluding that fall, overall durable goods orders were off 1.3 percent.

Orders for primary metals fell 4.6 percent, the largest drop since October 2000, while demand for fabricated metal products dropped 1.8 percent. Machinery orders fell 3.2 percent and orders for electrical equipment were down 0.6 percent.

The computers and electronic products category was the only major durable goods category to post a gain, with a rise in orders of 0.3 percent in November that built on a 3.5 percent rise a month earlier.

Within that category, new orders for computers fell 3.7 percent last month, while orders for communications equipment rose 1.4 percent. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Oct 30, 2014: Whirlpool Corp. reports strong third-quarter

Oct 30, 2014: Statistical Portrait of the European Appliance Industry Released by Appliance Magazine

Oct 30, 2014: New Whirlpool acquisition Indesit reports profit for year so far

Oct 30, 2014: Consumer Confidence Index rebounds in October

Oct 29, 2014: New home sales up slightly in September 2014

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows