Ok you pros...lets hear the down side...*L*
WASHINGTON (TheStreet) -- U.S. factories saw an uptick in November orders, adding to a growing swell of data showing that the manufacturing segment is continuing to show positive signs during the economic recovery.
Factory orders grew by 1.1% to $365.3 billion in the month after showing an upwardly revised 0.8% jump in October, the Commerce Department said Tuesday morning. New orders have risen seven of the last eight months. The showing outpaced expectations from economists who expected orders to rise by 0.5% in November, according to Thomson Reuters.
Excluding transportation, orders rose by 1.9% in November. Durable goods orders increased 0.2%, which is unchanged from an initial estimate offered last month.
The news follows Monday's better-than-expected report from the Institute for Supply Management, showing its own manufacturing index rose to 55.9 in December after reading 53.6 in the prior month. The index, which measures economic activity in the sector, expanded to its fastest pace since April 2006. A value above 50 typically denotes growth, while a showing below 50 suggests that the sector is contracting.
The ISM also added that new orders surged to a five-year high, as the group's reading on such matters rose to 65.5% in December from 60.3% in November.
Factory Orders Up 1.1% in November | Market Features | Financial Articles & Investing News | TheStreet.com
WASHINGTON (TheStreet) -- U.S. factories saw an uptick in November orders, adding to a growing swell of data showing that the manufacturing segment is continuing to show positive signs during the economic recovery.
Factory orders grew by 1.1% to $365.3 billion in the month after showing an upwardly revised 0.8% jump in October, the Commerce Department said Tuesday morning. New orders have risen seven of the last eight months. The showing outpaced expectations from economists who expected orders to rise by 0.5% in November, according to Thomson Reuters.
Excluding transportation, orders rose by 1.9% in November. Durable goods orders increased 0.2%, which is unchanged from an initial estimate offered last month.
The news follows Monday's better-than-expected report from the Institute for Supply Management, showing its own manufacturing index rose to 55.9 in December after reading 53.6 in the prior month. The index, which measures economic activity in the sector, expanded to its fastest pace since April 2006. A value above 50 typically denotes growth, while a showing below 50 suggests that the sector is contracting.
The ISM also added that new orders surged to a five-year high, as the group's reading on such matters rose to 65.5% in December from 60.3% in November.
Factory Orders Up 1.1% in November | Market Features | Financial Articles & Investing News | TheStreet.com
