Investing.com - U.S. durable goods orders rose significantly more-than-expected in November, while core orders also topped expectations, official data showed on Tuesday.
In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, increased by a seasonally adjusted 3.5% last month, easily surpassing expectations for a 2% gain. Orders for durable goods in October were revised to a 0.7% decline from a previously reported drop of 1.6%.
Durable goods are typically bulky or heavy products designed to last at three years, such as trains, computers or furniture.
Core durable goods orders, excluding volatile transportation items, climbed by a seasonally adjusted 1.2% in November, above forecasts for a 0.6% increase. Core durable goods orders in October were revised up to a 0.7% gain from a previously reported rise of 0.4%.
Orders for core capital goods, a key barometer of private-sector business investment, surged 4.5% last month, blowing past expectations for a 0.7% gain and after dropping 0.7% in October.
Shipments of core capital goods, a category used to calculate quarterly economic growth, advanced 2.8% in November, significantly higher than expectations for a 1% gain, after falling 0.4% in the preceding month.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD dipping 0.14% to trade at 1.3677.
Meanwhile, U.S. stock index futures pointed to a modestly higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.1%, S&P 500 futures indicated a rise of 0.05%, while the Nasdaq 100 futures signaled an increase of 0.04%.
In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, increased by a seasonally adjusted 3.5% last month, easily surpassing expectations for a 2% gain. Orders for durable goods in October were revised to a 0.7% decline from a previously reported drop of 1.6%.
Durable goods are typically bulky or heavy products designed to last at three years, such as trains, computers or furniture.
Core durable goods orders, excluding volatile transportation items, climbed by a seasonally adjusted 1.2% in November, above forecasts for a 0.6% increase. Core durable goods orders in October were revised up to a 0.7% gain from a previously reported rise of 0.4%.
Orders for core capital goods, a key barometer of private-sector business investment, surged 4.5% last month, blowing past expectations for a 0.7% gain and after dropping 0.7% in October.
Shipments of core capital goods, a category used to calculate quarterly economic growth, advanced 2.8% in November, significantly higher than expectations for a 1% gain, after falling 0.4% in the preceding month.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD dipping 0.14% to trade at 1.3677.
Meanwhile, U.S. stock index futures pointed to a modestly higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.1%, S&P 500 futures indicated a rise of 0.05%, while the Nasdaq 100 futures signaled an increase of 0.04%.