Manufacturered Goods Orders Accelerate to 1% Growth in October

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The U.S. Census Bureau announced Dec. 3 the October full report on manufacturers’ shipments, inventories and orders:

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Summary

New orders for manufactured goods in October, up 17 of the last 18 months, increased $5.1 billion or 1.0 percent to $522.1 billion, the U.S. Census Bureau reported today. This followed a 0.5 percent September increase. Shipments, also up 17 of the last 18 months, increased $10.2 billion or 2.0 percent to $523.4 billion. This followed a 1.0 percent September increase. Unfilled orders, up nine consecutive months, increased $3.1 billion or 0.3 percent to $1,249.8 billion. This followed a 0.7 percent September increase. The unfilled orders-to-shipments ratio was 6.76, down from 6.82 in September. Inventories, up 16 of the last 17 months, increased $6.4 billion or 0.8 percent to $764.2 billion. This followed a 1.0 percent September increase. The inventories-to-shipments ratio was 1.46, down from 1.48 in September.

New Orders

New orders for manufactured durable goods in October, down two consecutive months, decreased $1.1 billion or 0.4 percent to $260.3 billion, up from the previously published 0.5 percent decrease. This followed a 0.4 percent September decrease. Transportation equipment, down three of the last four months, drove the decrease, $2.0 billion or 2.6 percent to $75.3 billion. New orders for manufactured nondurable goods increased $6.1 billion or 2.4 percent to $261.9 billion.

Shipments

Shipments of manufactured durable goods in October, up five of the last six months, increased $4.1 billion or 1.6 percent to $261.5 billion, up from the previously published 1.5 percent increase. This followed a 0.6 percent September increase. Transportation equipment, up following two consecutive monthly decreases, led the increase, $2.3 billion or 3.2 percent to $75.3 billion. Shipments of manufactured nondurable goods, up seventeen of the last eighteen months, increased $6.1 billion or 2.4 percent to $261.9 billion. This followed a 1.3 percent September increase. Petroleum and coal products, up 16 of the last 27 months, led the increase, $4.5 billion or 8.5 percent to $57.7 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in October, up nine consecutive months, increased $3.1 billion or 0.3 percent to $1,249.8 billion, up from the previously published 0.2 percent increase. This followed a 0.7 percent September increase. Machinery, up 19 consecutive months, led the increase, $1.4 billion or 1.3 percent to $113.9 billion.

Inventories

Inventories of manufactured durable goods in October, up nine consecutive months, increased $3.1 billion or 0.7 percent to $466.4 billion, up from the previously published 0.6 percent increase. This followed a 1.0 percent September increase. Fabricated metal products, up 13 consecutive months, led the increase, $1.0 billion or 1.6 percent to $61.1 billion. Inventories of manufactured nondurable goods, up 14 of the last 15 months, increased $3.3 billion or 1.1 percent to $297.8 billion. This followed a 0.9 percent September increase. Petroleum and coal products, up 11 of the last 12 months, led the increase, $2.5 billion or 5.6 percent to $46.1 billion. By stage of fabrication, October materials and supplies increased 1.7 percent in durable goods and 1.2 percent in nondurable goods. Work in process decreased 0.3 percent in durable goods and increased 1.5 percent in nondurable goods. Finished goods increased 0.5 percent in durable goods and 0.9 percent in nondurable goods.

Explanatory Notes

Figures in text are adjusted for seasonality, but not for inflation. Figures on new and unfilled orders exclude data for semiconductor manufacturing. “Virtually unchanged” indicates that the change is less than 0.05 percent for a percent increase or decrease.     

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