Durable goods orders in the US beat expectations in November

The US Department of Commerce released data on durable goods orders for November. Accordingly, orders for durable goods increased by 2.5 percent compared to the previous month, reaching $268.3 billion in November. All orders regarding these products, which increased above market expectations, were expected to increase by 1.6 percent in this period. The aforementioned data amounted to $261.7 billion with an increase of 0.1 percent in October. The increase in orders in November was driven by 6.5 percent of orders for transportation equipment, 34.1 percent of orders for non-defense aircraft and parts, and 3 percent of orders for defense aircraft and parts. Orders excluding transportation increased by 0.8 percent in November, while orders excluding defense increased by 2 percent. Orders for durable consumer goods, which consist of products with a life span of at least 3 years, are important in terms of providing information on industrial production.