US Factory Orders Disappointed in November

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.

via MarketWatch

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza