Updated: 29-Jan-26 10:21 ET
| November Factory Orders |
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| Updated: 29-Jan-26 10:21 ET |
Highlights
- Factory orders jumped 2.7% month-over-month in November (Briefing.com consensus: 0.5%) following an upwardly revised 1.2% decline (from -1.3%) in October.
- Excluding transportation, factory orders increased 0.2% after declining 0.1% in October.
- Shipments of manufactured goods slipped 0.1% after increasing 0.1% in October.
Key Factors
- Durable goods orders surged 5.3% after declining 2.1% in October, paced by a 14.7% increase in transportation equipment orders.
- New orders for nondurable goods were flat after decreasing 0.3% in October.
- New orders for nondefense capital goods excluding aircraft-a proxy for business spending-jumped 0.4% following a 0.5% increase in October.
- The inventory-to-shipments ratio held at 1.56 for the fifth month in a row.
Big Picture
- The key takeaway from the report is that transportation equipment orders, which are volatile, drove the increase in total factory orders.
| Category | Nov | OCT | SEP | AUG | JUL |
| Factory Orders | 2.7% | -1.2% | 0.2% | 1.3% | -1.3% |
| Less Defense | 3.2% | -0.8% | 0.0% | 0.7% | -1.0% |
| Durable Goods | 5.3% | -2.1% | 0.6% | 3.0% | -2.8% |
| Nondurable Goods | 0.0% | -0.3% | -0.2% | -0.4% | 0.3% |
| Unfilled Factory Orders | 1.4% | 0.2% | 0.8% | 0.7% | 0.0% |
| Factory Shipments | 0.1% | 0.1% | -0.1% | -0.3% | 0.9% |
| Factory Inventories | 0.1% | 0.0% | -0.1% | -0.1% | 0.2% |
| Inventory/Shipment Ratio | 1.56 | 1.56 | 1.56 | 1.56 | 1.56 |
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