Research >> Economics
New orders for manufactured goods increased 2.8% in September 2023
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Summary
New orders for manufactured goods in September, up six of the last seven months, increased $16.1 billion or 2.8 percent to $601.5 billion, the U.S. Census Bureau reported today. This followed a 1.0 percent August increase. Shipments, up five consecutive months, increased $2.1 billion or 0.4 percent to $588.1 billion. This followed a 1.3 percent August increase. Unfilled orders, up nine of the last ten months, increased $18.4 billion or 1.4 percent to $1,353.6 billion. This followed a 0.3 percent August increase. The unfilled orders-to-shipments ratio was 6.88, up from 6.78 in August. Inventories, up three consecutive months, increased $2.0 billion or 0.2 percent to $857.3 billion. This followed a 0.3 percent August increase. The inventories-to-shipments ratio was 1.46, unchanged from August.
New Orders
New orders for manufactured durable goods in September, up following two consecutive monthly decreases, increased $13.1 billion or 4.6 percent to $297.0 billion, down from the previously published 4.7 percent increase. This followed a 0.1 percent August decrease. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $12.3 billion or 12.7 percent to $109.2billion. New orders for manufactured nondurable goods increased $3.0 billion or 1.0 percent to $304.5 billion.
Shipments
Shipments of manufactured durable goods in September, down two of the last three months, decreased $0.9 billion or 0.3 percent to $283.6 billion, unchanged from the previously published decrease. This followed a 0.5 percent August increase. Transportation equipment, down three of the last four months, drove the decrease, $1.1 billion or 1.2 percent to $91.3 billion. Shipments of manufactured nondurable goods, up four consecutive months, increased $3.0 billion or 1.0 percent to $304.5 billion. This followed a 2.2 percent August increase. Petroleum and coal products, also up four consecutive months, led the increase, $2.2 billion or 3.1 percent to $73.6 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in September, up nine of the last ten months, increased $18.4 billion or 1.4 percent to $1,353.6 billion, unchanged from the previously published increase. This followed a 0.3 percent August increase. Transportation equipment, also up nine of the last ten months, led the increase, $17.9 billion or 2.1 percent to $855.7 billion.
Inventories
Inventories of manufactured durable goods in September, up two consecutive months, increased $0.5 billion or 0.1 percent to $523.6 billion, unchanged from the previously published increase. This followed a 0.1 percent August increase. Machinery, up thirty-four of the last thirty-five months, led the increase, $0.3 billion or 0.3 percent to $95.1 billion. Inventories of manufactured nondurable goods, up three consecutive months, increased $1.5 billion or 0.4 percent to $333.7 billion. This followed a 0.6 percent August increase. Petroleum and coal products, also up three consecutive months, drove the increase, $1.7 billion or 3.5 percent to $50.3 billion. By stage of fabrication, September materials and supplies increased 0.1 percent in durable goods and 0.5 percent in nondurable goods. Work in process increased 0.3 percent in durable goods and decreased 0.6 percent in nondurable goods. Finished goods decreased 0.1 percent in durable goods and increased 0.9 percent in nondurable goods.
Posted: November 2, 2023 Thursday 10:00 AM