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Fin on Thursday, December 24, 2009 9:24:56 PM
WASHINGTON, Dec. 24 (Xinhua) -- U.S. orders for durable goods edged up 0.2 percent in November, weaker than expected, according to government data released Thursday.
The Commerce Department said new orders for manufactured durable goods, items expected to last at least three years, in November increased smaller because declines in demand for aircraft and autos offset strength in a number of other areas. Economists had expected a 0.5 percent gain.
However, November's increase was better than a 0.6 percent decline in October.
In November, orders for machinery rose by 3.5 percent, demand for primary metals such as steel grew 1.4 percent and orders for computers and electronic products jumped 3.7 percent, the biggest gain since February
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But the demand for transportation products dropped 5.5 percent as orders for motor vehicles and parts declined 0.2 percent, the weakest showing in five months. Demand for commercial aircraft plunged 32.6 percent.
The department said that demand for non-defense capital goods excluding aircraft rose by 2.9 percent in November, rebounding from a 2 percent drop in October. It was the best showing since a similar gain in September. This category is closely watched because economists considered it a good proxy for business investment. Special Report: Global Financial Crisis
U.S. durable goods orders rise 0.2% in November