New orders for manufactured durable goods in November fell by $2.6 billion or 1.3 percent to $193.7 billion, the U.S. Census Bureau announced on Thursday.
The higher-than-expected drop in the orders for manufactured goods was driven by transportation-equipment orders, which were down $6.2 billion or 11.9 percent to $45.5 billion, the Commerce Department data showed. Analysts had estimated a drop of one percent. Transportation-equipment orders have fallen in three of the last four months, data showed.
Inventories of manufactured durable goods in November, up eleven consecutive months, increased $1.9 billion or 0.6 percent to $319.1 billion, following a 0.6 percent October increase. Non-defense new orders for capital goods in November decreased $4.9 billion or 6.8 percent to $66.1 billion.