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US factory orders hit 1992 high

Washington - New orders for US manufactured goods surged in November to their highest level since 1992, lifted by rises in aircraft and ship orders, the Commerce Department said Monday.

New factory orders rose 1.8 percent from October to $497.9 billion in November, the highest monthly level since the current data series began in 1992, the department said.

Excluding transportation, new orders were up 0.6 percent in November.

The November reading marked a rebound from October's revised 0.5 percent decline and was in line with analyst expectations.

Transportation equipment, a sector that can be volatile month-over-month, led the November surge.

New transportation orders, which have climbed for three of the past four months, advanced 8.3 percent to $81.1 billion.

Orders for ships and boats soared by 22.5 percent from October, followed by commercial aircraft, up 21.8 percent.

Motor vehicle orders rose 2.4 percent. - Sapa-AFP

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