A U.S. Census Bureau report released on Dec. 23 revealed a sharper-than-expected decline in new orders for durable goods in November, with the pullback in demand for goods ranging from household appliances to heavy machinery signaling persistent challenges for America’s manufacturing sector amid heightened economic uncertainty.
The report revealed a 1.1 percent drop in durable goods orders for November, following an upwardly revised 0.8 percent increase in October. Forecasters expected a more modest 0.4 percent decline in November, with Monday’s print representing a big miss.
Durable goods, which include items designed to last three years or more, require substantial financial commitments from consumers and businesses. The November pullback suggests waning confidence among buyers, reflecting uncertainty over the economic outlook and inflationary pressures….