related items. Orders for metal products and electronics also fell in November. The declines were greater than gains recorded in autos, civilian aircraft, and machinery. A key category that economists view as a gauge of business investment spending—non-defense capital goods orders excluding aircraft—was flat last month, marking an improvement from declines of 1.9 percent in October and 1.1 percent in September. The November weakness in factory orders contrasts with an otherwise strong year for manufacturing, driven partly by strong auto sales. Economists believe the underlying demand for durable goods will remain strong, reflecting the projected investment plans of businesses to purchase new equipment to expand and modernize their operations.
