WASHINGTON — New factory orders for manufactured goods gained 1.1% in November, more than double economists’ estimates, the Commerce Department reported yesterday.
Orders excluding transportation rose 1.9%, the largest increase since June.
Total factory orders have increased in seven of the last eight months and orders excluding transportation have increased for four straight months.
Orders increased 0.8% in October, revised higher from the 0.6% rise initially reported. Orders excluding transportation were revised to a 1.0% jump from a 0.5% increase.
Economists expected total factory orders to increase 0.5%, according to the median estimate from Thomson Reuters.
Durable goods orders inched up 0.2%.
