Factory Orders Rise, Under Expectations
The report on U.S. factory orders from November is showing another month of gains, but at lower than expected readings. November’s gain was +1.8% against a Dow Jones consensus reading of +2.1%. If you exclude defense orders, the reading was +1.8%. …
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The report on U.S. factory orders from November is showing another month of gains, but at lower than expected readings. November’s gain was +1.8% against a Dow Jones consensus reading of +2.1%. If you exclude defense orders, the reading was +1.8%. If you exclude transportation, the reading was down to +0.3%.
The reading from October was also revised to -0.2% from -0.4%.
The Commerce Department report this morning features data from November and it should indicate some added growth that coincides with a positive reading on Institute for Supply Management data (ISM) in Manufacturing that was released yesterday. Now the market will just have to wait for Friday’s non-farm payrolls and unemployment data.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
