Research >> Economics
New orders for manufactured goods increased 1.0% in October 2020
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New orders for manufactured goods in October, up six consecutive months, increased $4.9 billion or 1.0 percent to $480.8 billion, the U.S. Census Bureau reported today. This followed a 1.3 percent September increase. Shipments, also up six consecutive months, increased $4.9 billion or 1.0 percent to $488.6 billion. This followed a 0.5 percent September increase. Unfilled orders, down seven of the last eight months, decreased $2.6 billion or 0.2 percent to $1,073.3 billion. This followed a 0.2 percent September decrease. The unfilled orders-to-shipments ratio was 6.38, down from 6.57 in September. Inventories, up two of the last three months, increased $1.2 billion or 0.2 percent to $687.3 billion. This followed a 0.1 percent September decrease. The inventories-to-shipments ratio was 1.41, down from 1.42 in September.
New Orders
New orders for manufactured durable goods in October, up six consecutive months, increased $3.2 billion or 1.3 percent to $241.0 billion, unchanged from the previously published increase. This followed a 2.1 percent September increase. Transportation equipment, up five of the last six months, led the increase, $1.1 billion or 1.4 percent to $77.3 billion. New orders for manufactured nondurable goods increased $1.7 billion or 0.7 percent to $239.8 billion.
Shipments
Shipments of manufactured durable goods in October, up five of the last six months, increased $3.2 billion or 1.3 percent to $248.8 billion, unchanged from the previously published increase. This followed a 0.5 percent September increase. Fabricated metal products, also up five of the last six months, led the increase, $0.7 billion or 2.4 percent to $30.9 billion. Shipments of manufactured nondurable goods, up six consecutive months, increased $1.7 billion or 0.7 percent to $239.8 billion. This followed a 0.5 percent September increase. Chemical products, up seven of the last eight months, led the increase, $0.8 billion or 1.1 percent to $69.4 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in October, down seven of the last eight months, decreased $2.6 billion or 0.2 percent to $1,073.3 billion, up from the previously published 0.3 percent decrease. This followed a 0.2 percent September decrease. Transportation equipment, down eight consecutive months, drove the decrease, $4.5 billion or 0.6 percent to $717.1 billion.
Inventories
Inventories of manufactured durable goods in October, up two consecutive months, increased $1.0 billion or 0.2 percent to $422.5 billion, down from the previously published 0.3 percent increase. This followed a 0.3 percent September increase. Transportation equipment, up twenty-five of the last twenty-six months, led the increase, $0.6 billion or 0.4 percent to $148.1 billion. Inventories of manufactured nondurable goods, up two of the last three months, increased $0.1 billion or 0.1 percent to $264.8 billion. This followed a 0.5 percent September decrease. Chemical products, up four of the last five months, drove the increase, $0.6 billion or 0.6 percent to $98.4 billion. By stage of fabrication, October materials and supplies increased 0.6 percent in durable goods and decreased 0.2 percent in nondurable goods. Work in process decreased 0.2 percent in durable goods and 1.4 percent in nondurable goods. Finished goods increased 0.4 percent in durable goods and 0.8 percent in nondurable goods.
Posted: December 4, 2020 Friday 10:00 AM