Economic Buzz: US Factory Orders Drop 0.6% In November

US factory orders fell by 0.6 percent in November after jumping by 2.1 percent in October, reflecting a steep drop in orders for non-durable goods, the Commerce Department reported on Monday. The unexpected drop in factory orders came as orders for non-durable goods slumped by 1.9 percent in November after inching up by 0.1 percent in the previous month. Meanwhile, the report said durable goods orders climbed by 0.7 percent in November after plummeting by 4.3 percent in October. Orders for transportation equipment led the rebound, surging up by 3.0 percent in November after plunging by 12.4 percent in October. Excluding orders for transportation equipment, the Commerce Department said factory orders tumbled by 1.3 percent in November compared to a 0.2 percent uptick in the previous month.