Factory orders rise a solid 1% in November

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Orders for US industrial products rose for the seventh consecutive month in November, the Commerce Department said Wednesday. Manufactured product orders increased 1% after a 1.3% increase in the prior month. Factories have been able to adapt their operations to meet the health precautions required by the coronavirus pandemic.

Economists polled by the Wall Street Journal expected a rise of 0.8%. Long-term durable goods orders rose 1%, in November they were revised slightly higher from the initial estimate a few weeks ago of a 0.9% gain. Non-durable goods orders increased 1.1% in the month. Non-defensive capital goods orders, excluding aircraft, increased a revised 0.5% in November, slightly above the previous estimate of a 0.4% increase. The actions were mixed in reaction to the prospects of a Democratic sweep in the second-round elections for two US Senate seats in Georgia. The Dow Jones Industrial Average DJIA, + 1.08% was up 345 points while the Nasdaq Composite Index COMP, -0.20% was down 42 points.