23 December 2011 15:55 [Source: ICIS news]
HOUSTON (ICIS)--New orders for US durable goods rose by 3.8% in November, marking the second monthly increase, the US Commerce Department said on Friday.
In its monthly report, the department said new orders for durable goods rose by $7.5bn (€5.8bn) last month to $207bn, and followed the upwardly revised October numbers, which were basically flat from September, the Commerce Department said.
New durable goods orders for October were originally reported as a 0.7% decline.
Durable goods are manufactured products meant to last three years or more and include such items as automobiles, appliances, transportation and manufacturing equipment.
Many durable goods, such as computers and automobiles, are major downstream markets for chemicals, resins and derivatives used in manufacturing processes or as end-product components.
November’s unfilled orders (those that have not been shipped) for manufactured durable goods increased by 1.3%, up $11.1bn to $898.1bn, following a 0.3% increase in October, the department said.
Inventories also increased in November by 0.6% or $2.0bn to $368bn. It was the 23rd consecutive month for increases.
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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