NAM: Factory orders rose in November.
IndustryWeek (1/7, Minter) reports factory orders rose $8.8 billion in November, the Census Bureau said. “This data was highly volatile for much of 2013, with large shifts in aircraft orders pushing the data up and down,” Chad Moutray, Chief Economist at the National Association of Manufacturers wrote in the Shopfloor (1/7). “Illustrating this, the year-to-date growth (from December 2012) was a more modest 2.6%, and November’s level of new factory orders ($497.9 billion) was not much different than what was experienced in June ($497.1 billion).” However, “even with this volatility,” he noted, new factory orders have been increasing. “Over the past three years, new factory orders have grown 17.3%, up from $424.6 billion in November 2010.”
The AP (1/7, Boak) reports a 21.8 percent increase in volatile aircraft orders drove the gains. However, orders were up “in many other categories, a sign of strength at factories and confidence among companies.” Core capital goods increased 4.1 percent. Also, demand increased “for construction machinery, computers, communications equipment, furniture and motor vehicle parts.”
The Los Angeles Times (1/6, Li), Reuters (1/7, Vlastelica), and other media sources also cover the story.