Research >> Economics
New orders for manufactured goods decreased 1.8% in November 2022
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Summary
New orders for manufactured goods in November, down following three consecutive monthly increases, decreased $9.8 billion or 1.8 percent to $543.3 billion, the U.S. Census Bureau reported today. This followed a 0.4 percent October increase. Shipments, also down following three consecutive monthly increases, decreased $3.4 billion or 0.6 percent to $548.6 billion. This followed a 0.2 percent October increase. Unfilled orders, down following twenty-six consecutive monthly increases, decreased $0.2 billion or virtually unchanged to $1,143.1 billion. This followed a 0.5 percent October increase. The unfilled orders-to-shipments ratio was 6.02, down from 6.03 in October. Inventories, up three consecutive months, increased $0.1 billion or virtually unchanged to $804.7 billion. This followed a 0.4 percent October increase. The inventories-to-shipments ratio was 1.47, up from 1.46 in October.
New Orders
New orders for manufactured durable goods in November, down following three consecutive monthly increases, decreased $5.9 billion or 2.1 percent to $270.5 billion, unchanged from the previously published decrease. This followed a 0.7 percent October increase. Transportation equipment, also down following three consecutive monthly increases, drove the decrease, $6.1 billion or 6.3 percent to $91.3 billion. New orders for manufactured nondurable goods decreased $3.9 billion or 1.4 percent to $272.8 billion.
Shipments
Shipments of manufactured durable goods in November, up eighteen of the last nineteen months, increased $0.5 billion or 0.2 percent to $275.8 billion, unchanged from the previously published increase. This followed a 0.3 percent October increase. Transportation equipment, up thirteen of the last fourteen months, drove the increase, $0.7 billion or 0.8 percent to $91.8 billion. Shipments of manufactured nondurable goods, down following three consecutive monthly increases, decreased $3.9 billion or 1.4 percent to $272.8 billion. This followed a 0.1 percent October increase. Petroleum and coal products, down following two consecutive monthly increases, led the decrease, $3.7 billion or 5.5 percent to $63.2 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in November, down following twenty-six consecutive monthly increases, decreased $0.2 billion or virtually unchanged to $1,143.1 billion, unchanged from the previously published decrease. This followed a 0.5 percent October increase. Transportation equipment, down following eighteen consecutive monthly increases, drove the decrease, $0.5 billion or 0.1 percent to $670.0 billion.
Inventories
Inventories of manufactured durable goods in November, up twenty-two consecutive months, increased $0.3 billion or 0.1 percent to $489.6 billion, unchanged from the previously published increase. This followed a 0.1 percent October increase. Machinery, up twenty-five consecutive months, drove the increase, $0.4 billion or 0.4 percent to $87.0 billion. Inventories of manufactured nondurable goods, down four of the last five months, decreased $0.2 billion or 0.1 percent to $315.0 billion. This followed a 0.9 percent October increase. Chemical products, down two consecutive months, drove the decrease, $0.5 billion or 0.4 percent to $104.4 billion. By stage of fabrication, November materials and supplies were virtually unchanged in durable goods and decreased 0.8 percent in nondurable goods. Work in process increased 0.3 percent in durable goods and 1.3 percent in nondurable goods. Finished goods decreased 0.2 percent in durable goods and were virtually unchanged in nondurable goods.
Posted: January 6, 2023 Friday 10:00 AM