New orders in US factories rise by 2.5%

New orders at US factories rose 2

New orders at US factories rose 2.5 per cent in November, in line with forecasts, as strong demand for civilian aircraft offset weakness in cars and machinery.

Meanwhile, reports showed sales at chain stores were up in the final week of December compared with a year earlier as end-of-year bargains lured shoppers.

Much of November's strength in factory orders came from civilian aircraft. New orders for transportation equipment rose 15.8 per cent as non-defence aircraft and parts orders surged 134.3 per cent.

At the same time, defence aircraft and parts orders slid 42.9 per cent and car and parts orders dropped 7.8 per cent.

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When transportation orders were stripped out, factory orders were flat in November, the report showed. Excluding defence, orders rose 3.3 per cent in the month.

Meanwhile, orders for non-defence capital goods climbed 19.6 per cent, a record increase. But, stripped of aircraft orders, non-defence capital goods - a proxy for business spending - fell 2.1 per cent.

Orders for durable goods, expensive items meant to last three years or longer, rose 4.4 per cent in November.

Computers and electronic product orders climbed 0.6 per cent, as computer orders jumped 6.8 per cent. Electrical equipment orders rose 1.5 per cent.