New orders for core capital goods (nondefense capital goods excluding aircraft) fell 0.1 percent in November compared to October, while shipments rose 0.2 percent compared to the previous month. Both new orders and shipments for October were revised down. The annualized three-month growth rate for new orders fell to -11.4 percent in November, while shipments fell to -0.4 percent. The decrease in new orders and shipments over the past three months suggests momentum for business investment is weakening, following two quarters of strong growth. Year-over-year growth rates for orders and shipments fell to their lowest levels since May 2014.
