Factory orders retreated in November, snapping a four-month winning streak, the Commerce Department said Friday.
The 2.4% decline was a bit stronger than the 2.3% forecast by economists surveyed by MarketWatch, but it followed an upward revision to October’s gain, taking that to 2.8%. Compared to a year ago, orders were down 1.8%.
Orders for durable goods slid 4.5%, while orders for nondurable goods were down 0.2%.
Shipments declined 0.1% in November, as did unfilled orders. Inventories increased 0.2%.
Economists are hoping that the long slump in manufacturing will reverse as the shock to oil LCOH7, -0.21% recedes.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.