US factory orders rebound in November on commercial aircraft demand

Factory orders increased 2.7% after an upwardly revised 1.2% decline in OctoberThere were solid increases in orders for electrical equipment, appliances and components as well as fabricated metal products. PHOTO: BT,FILE[WASHINGTON] New orders for US factory goods rebounded in November as demand for commercial aircraft surged, though growth in business spending on equipment likely moderated in the fourth quarter. Factory orders increased 2.7 per cent after an upwardly revised 1.2 per cent decline in October, the Commerce Department’s Census Bureau said on Thursday (Jan 29). Economists polled by Reuters had forecast factory orders increasing 1.6 per cent after a previously reported 1.3 per cent drop in October. Commercial aircraft orders soared 97.6 per cent in November.