Economists surveyed by The Wall Street Journal had expected just a 2.0% increase in November. Orders for transportation equipment steered the increase, rising 15.3% on month to $107.80 billion, from a steep 13.4% drop in October, the Commerce Department said. Stripping out transportation, new orders were up 0.5%, it said. New orders for nondefense capital goods excluding aircraft, a closely watched proxy for business investment, ticked up 0.8% on month to $73.97 billion, according to the data. Write to Ed Frankl at edward.frankl@wsj.com(END) Dow Jones NewswiresDecember 22, 2023 09:03 ET (14:03 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal December 22, 2023 14:11 UTC