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U.S. Factory Orders Rise For 4 Consecutive Months

Jan 09, 2018

U.S. factory orders rose for four months in a row by November 2017, mostly driven by increases in transportation equipment orders.

New orders for manufactured goods increased 6.5 billion U.S. dollars, or 1.3 percent, to 488.1 billion dollars in November, the Commerce Department said on Friday.

The growth was higher than the 0.4-percent increase in October.

New orders for transportation equipment drove the increase, said the Commerce Department. Such orders jumped 4.1 percent to 80.8 billion dollars in November.
Business spending in U.S. maintained steady growth in 2017, amid the expectation that the Congress was introducing big tax cuts for businesses.

According to survey by the Federal Reserve, businesses were optimistic and expected continued steady growth in business spending.

Fed officials widely expected that the corporate tax cuts would likely provide a modest boost to capital spending.

U.S. Congress last month passed the 1.5-trillion-dollar tax cuts package, the largest overhaul of the U.S. tax code over three decades.


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