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twitterFactory orders rise by 1.2 percent in November
Tuesday, Jan. 4, 2005 | 9:12 a.m.
WASHINGTON -- America's factories saw orders go up by a strong 1.2 percent in November, the biggest advance in four months and a sign that the nation's manufacturing sector was gaining momentum as the new year loomed.
The latest snapshot of manufacturing activity, released by the Commerce Department today, was even better than the 0.8 percent rise some economists were forecasting. The 1.2 percent increase, the most since July, followed a solid 0.9 percent gain in October.
Today's report, along with one released on Monday, suggested the industrial sector -- hardest hit by the 2001 recession -- continues to gain ground and cement its recovery.
Today's report showed that orders for big-ticket manufactured goods in November rose by 1.4 percent, a turnaround from the 1 percent drop registered in October.
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