Durable Goods Orders Surge in November

Durable goods orders surged in November, according to a Census Bureau report.

Orders for long-lasting U.S. goods rose 3.8% in November, better than the 2% expected. Orders for transportation equipment helped total orders rise the most since July. The read on the prior month's orders, however, was downwardly revised to no growth. Excluding cars, orders rose 0.3% in November adding to an upwardly revised 1.5% in October. Economists had forecast a rise to 0.5%.In a separate report, personal income and spending in November both edged up 0.1%, disappointing estimates. The consensus was for incomes to rise by 0.2% and spending to rise by 0.3%. In the prior month, incomes tacked on 0.4%.-- Written by Ross Tucker in New York.>To follow the writer on Twitter, go to http://twitter.com/rosstucker.>To submit a news tip, send an email to: tips@thestreet.com. >To order reprints of this article, click here: Reprints