New orders for U.S. manufactured durable goods unexpectedly decreased in the month of November, according to a report released by the Commerce Department on Tuesday.
The report said durable goods orders fell by 0.7 percent in November compared to the 0.3 increase that was reported for October.
The pullback in durable goods orders came as a surprise to economists, who had expected orders to surge up by 3.0 percent.
Excluding orders for transportation equipment, durable goods orders still fell by 0.4 percent in November after edging down by 0.1 percent in October.
The material has been provided by InstaForex Company – www.instaforex.com