Global Economy

Orders of US manufactured goods slump

Orders for big-ticket US manufactured goods dropped more than expected in November,bogged down by a sharp decline in the aircraft segment, according to government data released recently.

Durable goods orders dropped 2.1 per cent to $270.6 billion after three consecutive monthly increases, the Commerce Department said in a statement.

This was largely due to a slump in new orders for aircraft, which analysts note is a highly volatile component.

Orders for non-defense aircraft and parts plunged 36.4 per cent from October to November, data showed.

But excluding transportation, new orders held firm, with a 0.2 per cent rise.

Meanwhile, demand was boosted by orders in the defense sector.

"The data point to weakening momentum in business investment but positive equipment spending so far in the fourth quarter," said Rubeela Farooqi of High Frequency Economics in a note.

"A moderation is likely, going forward, on a continuing shift in demand from goods to services and in response to higher interest rates," she said, referring to borrowing costs after the central bank's steep increases to the benchmark lending rate in recent months.

Comments

Orders of US manufactured goods slump

Orders for big-ticket US manufactured goods dropped more than expected in November,bogged down by a sharp decline in the aircraft segment, according to government data released recently.

Durable goods orders dropped 2.1 per cent to $270.6 billion after three consecutive monthly increases, the Commerce Department said in a statement.

This was largely due to a slump in new orders for aircraft, which analysts note is a highly volatile component.

Orders for non-defense aircraft and parts plunged 36.4 per cent from October to November, data showed.

But excluding transportation, new orders held firm, with a 0.2 per cent rise.

Meanwhile, demand was boosted by orders in the defense sector.

"The data point to weakening momentum in business investment but positive equipment spending so far in the fourth quarter," said Rubeela Farooqi of High Frequency Economics in a note.

"A moderation is likely, going forward, on a continuing shift in demand from goods to services and in response to higher interest rates," she said, referring to borrowing costs after the central bank's steep increases to the benchmark lending rate in recent months.

Comments

প্রতি বছর কমছে আড়াই হাজার হেক্টর চাষযোগ্য জমি: কৃষি অধিদপ্তর

বাংলাদেশে প্রতি বছর প্রায় আড়াই থেকে তিন হাজার হেক্টর চাষযোগ্য জমি রূপান্তরিত হচ্ছে এবং অকৃষি কাজে ব্যবহার করা হচ্ছে।

৭ ঘণ্টা আগে