Pentagon contracts climbed 8 percent last month to $24.9 billion as the military worked to clear a backlog caused by October’s partial government shutdown.
The top agreement was shared by Northrop Grumman Corp. (NOC:US), Leidos Holdings Inc. (LDOS:US), Raytheon Co. (RTN:US) and four other companies, according to data compiled by Bloomberg. The contract is valued at as much as $4 billion for research and development to counter weapons of mass destruction.
The gain from November doesn’t necessarily mean defense contract spending is rebounding. December’s deals paled in comparison with the $36.3 billion a year earlier. In addition, the 16-day partial government closing delayed awards and contributed to a surge after agency offices reopened.