Manufactured goods orders rose in November; trade sales up in October
by December 29, 2020 1:12 pm 180 views
New orders for manufactured durable goods increased in November, and distributive trade sales and manufacturers’ shipments rose in October, according to the U.S. Census Bureau.
New orders for manufactured durable goods rose 0.9%, or by $2.2 billion, to $244.2 billion in November, from October. In October, the combined values of distributive trade sales and manufacturers’ shipments adjusted for seasonal and trading-day differences but not for price changes rose 0.9% to $1.48 trillion, from September, and increased 2.2% from October 2019, according to the Census Bureau.
Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, increased 0.7% to $1.94 trillion, from September, and down 4% from October 2019. The total business inventories/sales ratio based on seasonally adjusted data was 1.31 in October. The ratio was 1.4 in October 2019.
New orders for manufactured durable goods have risen over the past seven months. The November rise followed a 1.8% increase in October. Excluding transportation, new orders rose 0.4%. Excluding defense, new orders increased by 0.7%. Transportation equipment contributed the most to the increase and has risen in six of the past seven months. In November, transportation equipment rose 1.9%, or by $1.5 billion, to $78.8 billion.
Shipments of manufactured durable goods increased 0.3%, or by $700 million, to $250.1 billion in November. The shipments have risen in six of the past seven months, including a 1.5% increase in October. Primary metals contributed the most to the rise and have increased over the past seven months. Primary metals increased 1.8%, or by $300 million, to $19.2 billion in November.
Unfilled orders for manufactured durable goods declined 0.1%, or by $800 million, to $1.07 trillion in November. The orders have fallen in eight of the past nine months, including a 0.2% decline in October. Transportation equipment contributed the most to the decline and has fallen for nine consecutive months. Transportation equipment declined 0.5%, or by $3.5 billion, to $713.3 billion.
Inventories of manufactured durable goods increased 0.9%, or by $3.9 billion, to $426.6 billion in November. The inventories have increased for three consecutive months, including a 0.3% increase in October. Transportation equipment has increased for 26 of the past 27 months and contributed the most to the increase. Transportation equipment rose 1.6%, or by $2.4 billion, to $150.7 billion in November.
Nondefense new orders for capital goods increased 0.3%, or by $200 million, to $71.2 billion in November. Shipments declined 2.2%, or by $1.6 billion, to $71.8 billion. Unfilled orders fell 0.1%, or by $600 million, to $591.2 billion. Inventories rose 1.2%, or by $2.3 billion, to $196.1 billion. Defense new orders for capital goods declined 0.5%, or by $100 million, to $12.5 billion. Shipments increased 6.7%, or by $800 million, to $13.4 billion. Unfilled orders fell 0.5%, or by $900 million, to $178.7 billion. Inventories decreased 1.7%, or by $400 million, to $21 billion.