WASHINGTON (dpa-AFX) - Reflecting a steep drop in orders for non-durable goods, the Commerce Department released a report on Monday showing new orders for U.S. manufactured goods unexpectedly decreased in the month of November.
The Commerce Department said factory orders fell by 0.6 percent in November after jumping by 2.1 percent in October. The pullback surprised economists, who had expected orders to edge up by 0.2 percent.
The unexpected drop in factory orders came as orders for non-durable goods slumped by 1.9 percent in November after inching up by 0.1 percent in the previous month.
Meanwhile, the report said durable goods orders climbed by 0.7 percent in November after plummeting by 4.3 percent in October.
Orders for transportation equipment led the rebound, surging up by 3.0 percent in November after plunging by 12.4 percent in October.
Excluding orders for transportation equipment, the Commerce Department said factory orders tumbled by 1.3 percent in November compared to a 0.2 percent uptick in the previous month.
The report also said shipments of manufactured goods fell by 0.6 percent in November after edging down by 0.1 percent in October.
Inventories of manufactured goods also slipped 0.1 percent in November following twenty-four consecutive monthly increases.
With inventories falling by less than shipments, the inventories-to-shipments ratio crept up to 1.35 in November from 1.34 in October.
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