WASHINGTON (AP) — Orders to U.S. factories for big-ticketed manufactured goods rose a moderate 0.9% in November with a key category that tracks business investment plans showing a gain.
The November gain in orders for durable goods, items expected to last at least three years, followed stronger gains in recent months including a 3.8% rise in October, the Commerce Department said Wednesday.
A key category that serves as a proxy for business investment spending rose a modest 0.4% in November following much stronger gains of 3.6% in October and 3.9% in September.
Analysts are concerned that business investment could begin to fade if the resurgence of the coronavirus curtails demand.
The strength in November included a 3.4% rise in demand for motor vehicles and parts, which represented a rebound following a 2.5% drop in October.