US Factory Orders Jump $8.8bn as Economy Strengthens

New orders for US factory goods increased by $8.8bn in November, showing the world's largest economy's manufacturing sector has strengthened.

The Commerce Department revealed manufactured orders in the month increased to $497.9bn - representing a 1.8% hike on October.

The research body said the new orders were this at the highest level since the series was first published on a North American Industry Classification System basis in 1992.

The strong result followed a 0.5% slumped in October and the Commerce Department said, excluding transportation, new orders increased by 0.6%.

The body also found that unfilled orders increased $10.4bn to $1,058bn - a 1% rise.

This measure was also at the highest level since the series was first published on a NAICS bases and followed a 0.6% increase in October.

In particular, the unfilled order-to-shipments ratio was 6.42 in November, up from 6.39 the month before.

The positive data is further evidence that US economy is recovering from recession and the financial crisis of 2008.