WASHINGTON (AP) — U.S. companies increased their orders for long-lasting manufactured goods in November, with a second consecutive monthly gain in a key category that reflects businesses' investment plans.
The Commerce Department says orders for durable goods rose a seasonally adjusted 0.7 percent in November, compared to October, when orders had risen 1.1 percent.
Orders for core capital goods — considered a proxy for business investment — were up 2.7 percent in November after a revised 3.2 percent gain in October, which was the biggest increase in 10 months. The two big gains came after a period of weakness in this category had raised concerns about flagging business investment, a driving force in this recovery.
The gains were widespread in November, with only demand for commercial aircraft showing a big decline.