Research >> Economics
New orders for manufactured goods decreased 3.6% in October 2023
|
Summary
New orders for manufactured goods in October, down following two consecutive monthly increases, decreased $21.8 billion or 3.6 percent to $576.8 billion, the U.S. Census Bureau reported today. This followed a 2.3 percent September increase. Shipments, down two consecutive months, decreased $8.2 billion or 1.4 percent to $577.8 billion. This followed a virtually unchanged September decrease. Unfilled orders, up ten of the last eleven months, increased $4.0 billion or 0.3 percent to $1,356.8 billion. This followed a 1.3 percent September increase. The unfilled orders-to-shipments ratio was 6.90, up from 6.88 in September. Inventories, up four consecutive months, increased $0.5 billion or 0.1 percent to $857.0 billion. This followed a 0.1 percent September increase. The inventories-to-shipments ratio was 1.48, up from 1.46 in September.
New Orders
New orders for manufactured durable goods in October, down three of the last four months, decreased $15.9 billion or 5.4 percent to $279.4 billion, unchanged from the previously published decrease. This followed a 4.0 percent September increase. Transportation equipment, also down three of the last four months, led the decrease, $15.9 billion or 14.7 percent to $92.1 billion. New orders for manufactured nondurable goods decreased $5.9 billion or 1.9 percent to $297.3 billion.
Shipments
Shipments of manufactured durable goods in October, down three of the last four months, decreased $2.2 billion or 0.8 percent to $280.4 billion, up from the previously published 0.9 percent decrease. This followed a 0.6 percent September decrease. Transportation equipment, down four of the last five months, led the decrease, $2.0 billion or 2.2 percent to $88.4 billion. Shipments of manufactured nondurable goods, down following four consecutive monthly increases, decreased $5.9 billion or 1.9 percent to $297.3 billion. This followed a 0.6 percent September increase. Petroleum and coal products, also down following four consecutive monthly increases, drove the decrease, $6.1 billion or 8.4 percent to $67.0 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in October, up ten of the last eleven months, increased $4.0 billion or 0.3 percent to $1,356.8 billion, unchanged from the previously published increase. This followed a 1.3 percent September increase. Transportation equipment, also up ten of the last eleven months, led the increase, $3.8 billion or 0.4 percent to $859.3 billion.
Inventories
Inventories of manufactured durable goods in October, up three consecutive months, increased $1.3 billion or 0.3 percent to $524.8 billion, unchanged from the previously published increase. This followed a 0.1 percent September increase. Transportation equipment, also up three consecutive months, led the increase, $1.1 billion or 0.7 percent to $165.9 billion. Inventories of manufactured nondurable goods, own following three consecutive monthly increases, decreased $0.8 billion or 0.2 percent to $332.2 billion. This followed a 0.2 percent September increase. Petroleum and coal products, also down following three consecutive monthly increases, led the decrease, $0.6 billion or 1.2 percent to $49.6 billion. By stage of fabrication, October materials and supplies increased 0.1 percent in both durable and nondurable goods. Work in process increased 0.6 percent in durable goods and decreased 1.5 percent in nondurable goods. Finished goods were virtually unchanged in both durable and nondurable goods.
Posted: December 4, 2023 Monday 10:00 AM