Categories: Retirement Planning and Investing

Orders for U.S. Durable Goods Rise More than Forecast

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Orders for U.S. Durable Goods Rise More than Forecast (Bloomberg)

Orders for durable goods climbed more than forecast in November, showing broad-based gains that signal U.S. business investment is recovering after a third-quarter lull. Bookings for goods meant to last at least three years rose 3.5 percent after a 0.7 percent drop the prior month, the Commerce Department reported today. The median estimate of 75 economists surveyed by Bloomberg called for a 2 percent advance. Excluding demand for transportation equipment, which is often volatile, orders also beat projections. Growing demand for automobiles and homes is benefiting manufacturers such as 3M Co. (MMM), resulting in gains in production that will help the expansion accelerate. Investment in new equipment may also increase as consumer spending climbs and the prospect of smaller federal budget cuts next year make the management teams of such companies more confident. The report could be bullish for manufacturing stocks.

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Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.