Bloomberg (12/21/12) Michelle Jamrisko; Alex Kowalski
Orders for long-lasting goods jumped in November, in data suggesting a surprisingly strong and broad increase in corporate spending, according to a report released today by the U.S. Department of Commerce. Durable-goods orders increased 0.7% in November, and importantly, upwardly revised October’s reading to growth of 1.1% from a previously estimated 0.5% advance. The advance exceeded the median forecast of economists surveyed by Bloomberg that projected a 0.3% rise. Bookings for non-defense capital goods excluding aircraft, a proxy for future business investment, climbed for a second month.