Research >> Economics
New orders for manufactured goods increased 0.2% in December 2023
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Summary
New orders for manufactured goods in December, up four of the last five months, increased $1.2 billion or 0.2 percent to $594.3 billion, the U.S. Census Bureau reported today. This followed a 2.6 percent November increase. Shipments, up two consecutive months, increased $0.3 billion or virtually unchanged to $581.0 billion. This followed a 0.5 percent November increase. Unfilled orders, up twelve of the last thirteen months, increased $18.2 billion or 1.3 percent to $1,393.2 billion. This followed a 1.3 percent November increase. The unfilled orders-to-shipments ratio was 7.08, up from 6.96 in November. Inventories, up six consecutive months, increased $1.0 billion or 0.1 percent to $857.7 billion. This followed a virtually unchanged November increase. The inventories-to-shipments ratio was 1.48, unchanged from November.
New Orders
New orders for manufactured durable goods in December, down two of the last three months, decreased less than $0.1 billion or virtually unchanged to $295.4 billion, down from the previously published virtually unchanged increase. This followed a 5.4 percent November increase. Transportation equipment, also down two of the last three months, drove the decrease, $1.0 billion or 0.9 percent to $106.8 billion. Neworders for manufactured nondurable goods increased $1.2 billion or 0.4 percent to $298.9 billion.
Shipments
Shipments of manufactured durable goods in December, down three of the last four months, decreased $0.9 billion or 0.3 percent to $282.1 billion, unchanged from the previously published decrease. This followed a 1.0 percent November increase. Transportation equipment, also down three of the last four months, led the decrease, $0.7 billion or 0.8 percent to $89.6 billion. Shipments of manufactured nondurable goods, up following two consecutive monthly decreases, increased $1.2 billion or 0.4 percent to $298.9 billion. This followed a virtually unchanged November decrease. Food products, up five of the last six months, led the increase, $0.4 billion or 0.5 percent to $80.3 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in December, up twelve of the last thirteen months, increased $18.2 billion or 1.3 percent to $1,393.2 billion, unchanged from the previously published increase. This followed a 1.3 percent November increase. Transportation equipment, also up twelve of the last thirteen months, led the increase, $17.3 billion or 2.0 percent to $895.6 billion.
Inventories
Inventories of manufactured durable goods in December, up five consecutive months, increased $1.9 billion or 0.4 percent to $526.9 billion, unchanged from the previously published increase. This followed a 0.1 percent November increase. Transportation equipment, also up five consecutive months, led the increase, $1.3 billion or 0.8 percent to $167.6 billion. Inventories of manufactured nondurable goods, down three consecutive months, decreased $0.9 billion or 0.3 percent to $330.8 billion. This followed a 0.1 percent November decrease. Petroleum and coal products, also down three consecutive months, drove the decrease, $1.0 billion or 2.0 percent to $48.5 billion. By stage of fabrication, December materials and supplies decreased 0.2 percent in durable goods and 0.6 percent in nondurable goods. Work in process increased 1.2 percent in durable goods and decreased 0.7 percent in nondurable goods. Finished goods increased 0.2 percent in both durable and nondurable goods.
Posted: February 2, 2024 Friday 08:30 AM