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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