Manufacturing Momentum: A Strong Finish to the Year
November's Surprising Economic Upturn
In a notable display of economic resilience, new orders for long-lasting manufactured items experienced a substantial 5.3% increase in November. This rise pushed the total value to an impressive $323.79 billion, comfortably outperforming the market's forecast of a 3.1% expansion. This uptick represents a significant recovery after a 2.1% contraction observed in October, highlighting a dynamic shift in industrial activity.
Year-Over-Year Growth and Underlying Strength
The latest data also underscores a strong annual performance, with new orders climbing 12.3% compared to the same period last year. This consistent growth trajectory points to sustained demand within the manufacturing industry. Furthermore, a closer look at the figures reveals broad-based strength: excluding the often-volatile transportation sector, new orders still saw a respectable 0.5% increase. When defense-related orders are also removed from the equation, the increase is even more pronounced at 6.6%, suggesting fundamental positive momentum across various industrial segments.