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There were increases in orders for electrical equipment, appliances and components, as well as computers and electronic products. Economists polled by Reuters had forecast these so-called core capital goods rising 0.3 percent in November. show chapters 5 Hours Ago | 01:49 A collapse in oil prices last year, together with a surge in the dollar, pressured manufacturing. Much of the impact has been through weak business spending on equipment, which has contracted for four consecutive quarters. But with oil prices hovering above $50 per barrel, manufacturing, which accounts for 12 percent of the U.S. economy, is starting to perk up.Gas and oil well drilling has risen over the last several months. Economists expect business spending to rebound in 2017, driven in part by president-elect Donald Trump ‘s perceived business-friendly policies. The incoming Trump administration has promised to slash taxes, remove some regulations and increase infrastructure spending. But manufacturing gains are likely to be limited by renewed dollar strength in the wake of Trump’s victory.
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