Durable good sales rose just 0.1% in November, a lower-than-expected bump after October’s 0.4% drop, Bloomberg reports. Analysts had forecast a 3% rise. Take out transportation, including stellar airline sales, and sales fell 0.7%. It’s another sign the economy is slowing down and businesses are being cautious, economists said. One predicted that industrial production could soon turn negative.
In the face of a slowing domestic market, many companies are relying heavily on exports to weather the storm. Shipments to overseas buyers rose 0.9%. Treasury notes rose and the dollar fell after the report. A separate report contained more gloom still: Jobless claims rose unexpectedly last week, and the number of people collecting benefits jumped to a 2-year high.