Factory orders jump a solid 1% in November

Factory orders jump a solid 1% in November

U.S. factory goods orders rose for the seventh straight month in November, the Commerce Department said Wednesday.

Orders for manufactured goods rose 1% after a 1.3% gain in the prior month. Factories have been able to adapt their operations to meet health precautions required by the coronavirus pandemic.

Economists surveyed by the Wall Street Journal were expecting a 0.8% gain.

Orders for long-lasting durable goods rose 1%, in November revised up slightly from the initial estimate a few weeks ago of a 0.9% gain.

Orders for nondurable goods were up 1.1 % in the month.

Orders for nondefense capital goods, excluding aircraft rose a revised 0.5% in November, up slightly from the prior estimate of an 0.4% rise.

Stock were mixed in reaction to prospects of a Democratic sweep of run-off elections for two U.S. Senate seats in Georgia. The Dow Jones Industrial Average

was up 345 points while the Nasdaq Composite Index

was down 42 points.

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