US durable goods orders surge in November

Orders for newly manufactured durable goods registered their biggest monthly increase in more than three years in November, according to the Census Bureau.

US durable goods orders surged by 5.4% month-on-month in November, reversing a 5.1% decline in October and easily beating market expectations for an increase of 2.2% for the biggest gain in durable goods orders since July 2020.

Transportation equipment, also up two of the last three months, led the increase, up 15.3% to $107.8bn, while excluding transportation, new orders increased 0.5%. Excluding defence, new orders shot up 6.5%.

Reporting by Iain Gilbert at Sharecast.com