United States Durable Goods Orders

New orders for US manufactured durable goods rose 2.5 percent month-over-month in November of 2021, extending gains from a revised 0.1 percent increase in October and compared to market expectations of a 1.6 percent increase. Orders of transportation equipment rebounded significantly (6.5 percent vs -0.3 percent in October), namely nondefense aircraft and parts (34.1 percent vs -4.1 percent) and defense aircraft and parts (3.0 percent vs -18.5 percent). Fabricated metal products also saw orders bounce back (0.6 percent vs -0.7 percent), while orders for computers and related products rose at a stronger pace (4.0 percent vs 1.2 percent). Excluding defense, new orders climbed 2.0 percent and excluding transportation went up 0.8 percent, the latter beating forecasts of a 0.6 percent gain. Meanwhile, orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, edged down 0.1 percent, missing forecasts of a 0.6 percent increase.