WASHINGTON - Factory orders increased 0.7% in November as orders excluding transportation jumped by the largest amount in eight months, the Commerce Department reported Tuesday.
Orders excluding transportation rose 2.4%, the largest increase since March. Orders for transportation equipment fell 11.1% as auto orders dropped 1.8%. Factory orders excluding transportation have increased for four straight months.
Economists expected factory orders would increase 0.3%, according to the median estimate from Thomson Reuters. Orders in October were revised higher to a decrease of 0.7% from a 0.9% drop reported last month.
November factory orders for durable goods edged lower by 0.3%, the second consecutive monthly decrease.
Orders for nondefense capital goods dropped 6.8%, the largest decline since August 2009.
