By Canadian Press

US durable goods orders rise 1.3 per cent in November

Dec 22, 2017 | 7:00 AM

Orders for long-lasting manufactured goods rose last month by 1.3 per cent, boosted by orders for both commercial and defence aircraft. A category that measures business investment slipped for the first time since June.

The increase in orders for durable goods — products meant to last at least three years — comes after a 0.4 per cent decline in October, the Commerce Department said Friday. October’s drop followed solid gains in September and August.

American industry continues to look healthy, helped by an improving world economy and a lower dollar, which makes U.S.-made products less expensive to buy around the world.

Orders for commercial aircraft — a category that swings wildly from month to month — rose 14.5 per cent in November. That comes on the heels of a 15.8 per cent decline in October.

Excluding the volatile transportation category, orders fell 0.1 per cent, the first downturn since a 0.4 decline in April.

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What you need to know:

–October’s durable goods orders figure was upgraded; Orders fell 0.4 per cent, better than the previously reported 1.2 per cent decline.

–The category that tracks business investment fell 0.1 per cent in November, its first negative reading since June.

–October’s reading for the business investment category was revised upward from a 0.5 per cent decline to a 0.8 per cent gain.

–Orders for defence aircraft also bounced back, up 11.9 per cent after a 7.3 per cent decline in October.

–Orders for machinery fell 1.1 per cent, the biggest drop since a 1.4 per cent decline in May of 2016.

Matt Ott, The Associated Press