Demand for U.S. Goods Climbed More Than Forecast in November
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Demand for goods such as machinery and electronics climbed more than forecast in November, showing U.S. companies are planning to expand next year as they look beyond the tax increases and spending cuts slated to take effect.
Orders for durable goods increased 0.7 percent last month after a 1.1 percent gain in October that was larger than previously estimated, the Commerce Department reported today in Washington. The advance exceeded the median forecast of economists surveyed by Bloomberg that projected a 0.3 percent rise. Bookings for non-defense capital goods excluding aircraft, a proxy for future business investment, climbed for a second month.