Orders To U.S. Factories Increased By 1.8 Percent In November
The United States saw an 1.8 percent uptick in orders to factories in November, marking a four-month high and signaling continued economic recovery. The Commerce Department also revised the data for Ocotber, which recorded a 0.2 percent drop.
"Improving consumer spending combined with lean inventories indicate production will continue to increase, bolstering economic growth in early 2012. Slowing demand for capital goods like computers is a sign business investment will cool this year, reflecting concern over a slowdown in global growth and a less advantageous government tax credit.
"'The U.S. manufacturing sector has been picking up momentum,' Brian Bethune, president of Alpha Macroeconomic Foresights in Boston, said before the report. 'Key domestic industries such as private construction and autos have seen steady increases in final sales, and inventories have remained wafer thin.'"
The AP reports the growth was fueled by demand for aircraft and it was the best showing since a 2.1 percent gain in July.