The U.S. Commerce Department reported on Wednesday that the value of new factory orders rose 1.0 percent m-o-m in November, following a revised 1.3 percent m-o-m gain in October (originally a 1.0 percent m-o-m advance). That marked the seventh consecutive month of gains in factory orders.

Economists had forecast a 0.7 percent m-o-m increase.

According to the report, orders for transportation equipment surged 2.1 percent m-o-m in November. Gains also occurred in orders for machinery (+1 percent m-o-m) and electrical equipment and appliances (+0.7 percent m-o-m). These gains, however, were partially offset by declines in orders for computers and electronics (-0.2 percent m-o-m) and fabricated metals (-0.9 percent m-o-m).

Meanwhile, total factory orders excluding transportation, a volatile part of the overall reading, rose 0.8 percent m-o-m in November (compared to an upwardly revised 1.3 percent m-o-m gain in October), while orders for nondefense capital goods excluding aircraft, a measure of business spending plans, increased 0.5 percent m-o-m instead of advancing 0.4 percent m-o-m as reported last month. The report also showed that shipments of core capital goods advanced 0.5 percent m-o-m in November, rather than gaining 0.4 percent m-o-m as previously reported.