News Summary: US factory orders steady in November
Published: January 4, 2013
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TAKING A BREATHER: Orders to U.S. factories were flat in November after an increase of 0.8 percent in October. Orders for durable goods such as autos rose 0.8 percent while nondurable goods orders fell 0.6 percent, reflecting falling oil prices.
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LOOKING AHEAD: Companies boosted their orders for manufactured goods that reflect business investment plans. Orders for core capital goods increased a 2.6 percent after a 3 percent rise in October, the strongest gain in 10 months.
HIGH HOPES: Analysts expect companies to boost spending on computers and other equipment to expand and modernize now that a deal on taxes will remove uncertainty that had been weighing on business investment decisions.
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