Factory Orders Plunge 2.4% Taking Away Most Of Last Month’s Rise
The Commerce Department full report on Manufacturers’ Shipments, Inventories and Orders shows new orders plunged 2.4% in November after rising 2.8% in October. Shipments, which feed into GDP estimates fell 0.1%. For the year, new orders are down 1.8%.
Looking Good
- Motor Vehicles and Parts
- Construction
- Defense
Looking Bad
- Aggregate numbers
- Computers
- Capital Goods
- Consumer goods
- Computers
The numbers (in millions) in the first three columns indicate the size and relative importance of the categories.
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This is more proof, along with Lambert's effective demand, tax receipts, and Christmas sales slowing, that labor is not spending, and that business will suffer from this spending decline.