24 December 2013 15:29 [Source: ICIS news]
HOUSTON (ICIS)--New durable goods orders in the US rose by 3.5% in November from October, the US Census Bureau said on Tuesday, with transportation equipment leading the increase with an 8.4% hike.
In its monthly report, the federal agency said November orders totalled $241.6bn (€176.4bn), up by $8.2bn.
The rise followed October's decrease of 0.7% but was the third increase of the last four months.
Transportation equipment was also up three of the last four months, rising by $6.3bn to reach $81.2bn. The segment was led by non-defence aircraft and parts, which increased by $3.9bn.
Meanwhile, shipments of manufactured durable goods rose by 1.8% to $238.3bn, and unfilled orders increased by 1.0% to $1.1bn. Inventories of manufactured durable goods ticked up by 0.3% to $384.7bn.
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.
($1 = €0.73)
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