Posted: Dec 21, 2012 7:17 AM by Associated Press
WASHINGTON (AP) - U.S. companies increased their orders for long-lasting manufactured goods in November, with a second consecutive monthly gain in a key category that reflects businesses' investment plans.
The Commerce Department says orders for durable goods rose a seasonally adjusted 0.7 percent in November, compared to October, when orders had risen 1.1 percent.
Orders for core capital goods - considered a proxy for business investment - were up 2.7 percent in November after a revised 3.2 percent gain in October, which was the biggest increase in 10 months. The two big gains came after a period of weakness in this category had raised concerns about flagging business investment, a driving force in this recovery.
The gains were widespread in November, with only demand for commercial aircraft showing a big decline.
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