After reporting a steep drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing a rebound in durable goods orders in the month of November.
Source: www.rttnews.com
Durable goods orders witnessed a rebound for the month of November as per the U.S. Commerce Department. Durable goods orders climbed by 0.8% in November after plunging by 4.3% in October. However, Economists had expected durable goods orders to jump by 1.6%. Orders for transportation equipment led the rebound, surging up by 2.9% in November after plummeting by 12.3% in the previous month. On Similar lines, orders for defense aircraft and parts soared by 31.5% in November following a 55.3% slump in October.
