Research >> Economics
New orders for manufactured goods increased 1.1% in October 2022
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Summary
New orders for manufactured goods in October, up twelve of the last thirteen months, increased $5.8 billion or 1.0 percent to $556.6 billion, the U.S. Census Bureau reported today. This followed a 0.3 percent September increase. Shipments, up nineteen of the last twenty months, increased $3.9 billion or 0.7 percent to $554.8 billion. This followed a 0.3 percent September increase. Unfilled orders, up twenty-six consecutive months, increased $6.9 billion or 0.6 percent to $1,144.0 billion. This followed a 0.5 percent September increase. The unfilled orders-to-shipments ratio was 6.03, unchanged from September. Inventories, up two consecutive months, increased $4.0 billion or 0.5 percent to $805.3 billion. This followed a 0.1 percent September increase. The inventories-to-shipments ratio was 1.45, unchanged from September.
New Orders
New orders for manufactured durable goods in October, up seven of the last eight months, increased $3.0 billion or 1.1 percent to $277.4 billion, up from the previously published 1.0 percent increase. This followed a 0.2 percent September increase. Transportation equipment, up six of the last seven months, led the increase, $2.1 billion or 2.2 percent to $97.7 billion. New orders for manufactured nondurable goods increased $2.8 billion or 1.0 percent to $279.3 billion.
Shipments
Shipments of manufactured durable goods in October, up seventeen of the last eighteen months, increased $1.1 billion or 0.4 percent to $275.5 billion, unchanged from the previously published increase. This followed a 0.3 percent September increase. Machinery, up nineteen of the last twenty months, led the increase, $0.6 billion or 1.4 percent to $38.8 billion. Shipments of manufactured nondurable goods, up nineteen of the last twenty months, increased $2.8 billion or 1.0 percent to $279.3 billion. This followed a 0.3 percent September increase. Petroleum and coal products, up two consecutive months, drove the increase, $2.9 billion or 4.4 percent to $69.1 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in October, up twenty-six consecutive months, increased $6.9 billion or 0.6 percent to $1,144.0 billion, unchanged from the previously published increase. This followed a 0.5 percent September increase. Transportation equipment, up twenty of the last twenty-one months, led the increase, $6.8 billion or 1.0 percent to $670.9 billion.
Inventories
Inventories of manufactured durable goods in October, up twenty-one consecutive months, increased $0.8 billion or 0.2 percent to $489.5 billion, unchanged from the previously published increase. This followed a 0.3 percent September increase. Machinery, up twenty-four consecutive months, drove the increase, $0.9 billion or 1.1 percent to $86.6 billion. Inventories of manufactured nondurable goods, up following three consecutive monthly decreases, increased $3.2 billion or 1.0 percent to $315.8 billion. This followed a 0.1 percent September decrease. Petroleum and coal products, up following four consecutive monthly decreases, led the increase, $2.9 billion or 5.9 percent to $51.6 billion. By stage of fabrication, October materials and supplies increased 0.4 percent in both durable and nondurable goods. Work in process decreased 0.3 percent in durable goods and increased 1.5 percent in nondurable goods. Finished goods increased 0.4 percent in durable goods and 1.3 percent in nondurable goods.
Posted: December 5, 2022 Monday 10:00 AM