US factory orders decline slightly in November

American factory orders shrank slightly in November following a large rise in the prior month, as coal and oil product orders declined.

According to the US Department of Commerce, total orders for manufactured goods declined at a 0.2% month-on-month pace, or $1.1bn, in November to $472.2bn.

In October, total orders rose by 1.3% over the month, two tenths of a percentage point less than a preliminary estimate, revised data showed.

Orders for so-called durable goods were virtually unchanged, slipping by less than $0.1bn to $238.6bn.

The ratio of inventories to shipments came in at 1.35, down from 1.36 in the month before.

Non-durable goods orders decreased 0.4% to $233.6bn.

Orders for petroleum and coal products fell 1.5% month-on-month to $42.14bn.

Excluding the defence sector, factory orders increased 0.4% month-on-month to $463.11bn but were 4.4% lower versus a year ago.

If just transportation orders were excluded from the tally, one of the most closely followed gauges, orders were down by 0.3% on the month to $394.7bn.