Research >> Economics
New orders for manufactured goods increased 2.6% in November 2023
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Summary
New orders for manufactured goods in November, up three of the last four months, increased $14.9 billion or 2.6 percent to $592.9 billion, the U.S. Census Bureau reported today. This followed a 3.4 percent October decrease. Shipments, up following two consecutive monthly decreases, increased $2.7 billion or 0.5 percent to $580.7 billion. This followed a 1.3 percent October decrease. Unfilled orders, up eleven of the last twelve months, increased $17.1 billion or 1.3 percent to $1,374.8 billion. This followed a 0.4 percent October increase. The unfilled orders-to-shipments ratio was 6.95, up from 6.91 in October. Inventories, up five consecutive months, increased $0.6 billion or 0.1 percent to $857.1 billion. This followed a virtually unchanged October increase. The inventories-to-shipments ratio was 1.48, unchanged from October.
New Orders
New orders for manufactured durable goods in November, up two of the last three months, increased $15.0 billion or 5.4 percent to $295.2 billion, unchanged from the previously published increase. This followed a 5.1 percent October decrease. Transportation equipment, also up two of the last three months, led the increase, $14.3 billion or 15.3 percent to $107.8 billion. New orders for manufactured nondurable goods decreased $0.1 billion or virtually unchanged to $297.6 billion.
Shipments
Shipments of manufactured durable goods in November, up following two consecutive monthly decreases, increased $2.8 billion or 1.0 percent to $283.1 billion, unchanged from the previously published increase. This followed a 0.8 percent October decrease. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $2.0 billion or 2.2 percent to $90.2 billion. Shipments of manufactured nondurable goods, down two consecutive months, decreased $0.1 billion or virtually unchanged to $297.6 billion. This followed a 1.8 percent October decrease. Petroleum and coal products, also down two consecutive months, drove the decrease, $0.6 billion or 0.8 percent to $66.7 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in November, up eleven of the last twelve months, increased $17.1 billion or 1.3 percent to $1,374.8 billion, unchanged from the previously published increase. This followed a 0.4 percent October increase. Transportation equipment, also up eleven of the last twelve months, drove the increase, $17.5 billion or 2.0 percent to $878.3 billion.
Inventories
Inventories of manufactured durable goods in November, up four consecutive months, increased $0.4 billion or 0.1 percent to $524.8 billion, unchanged from the previously published increase. This followed a 0.2 percent October increase. Transportation equipment, also up four consecutive months, led the increase, $0.2 billion or 0.1 percent to $166.0 billion. Inventories of manufactured nondurable goods, up four of the last five months, increased $0.2 billion or 0.1 percent to $332.3 billion. This followed a 0.3 percent October decrease. Petroleum and coal products, also up four of the last five months, drove the increase, $0.4 billion or 0.7 percent to $50.0 billion. By stage of fabrication, November materials and supplies were virtually unchanged in durable goods and increased 0.1 percent in nondurable goods. Work in process increased 0.4 percent in durable goods and decreased 0.4 percent in nondurable goods. Finished goods decreased 0.2 percent in durable goods and increased 0.3 percent in nondurable goods.
Posted: January 5, 2024 Friday 10:00 AM