U.S. factory orders dropped 0.9% in October

RP news wires

New orders for manufactured goods in October, down following three consecutive monthly increases, decreased $3.6 billion, 0.9 percent, to $420.1 billion, the U.S. Census Bureau reported on December 3. This followed a 3.0 percent September increase. Excluding transportation, new orders decreased 0.2 percent.

Shipments, up three of the last four months, increased $1.5 billion (0.3 percent) to $421.0 billion. This followed a 0.7 percent September increase.

Unfilled orders, up nine of the last 10 months, increased $5.2 billion (0.6 percent) to $821.6 billion. This followed a 1.3 percent September increase. The unfilled orders-to-shipments ratio was 5.76, up from 5.67 in September.

Inventories, up nine of the last 10 months, increased $4.7 billion (0.9 percent) to $538.2 billion. This followed a 1.1 percent September increase. The inventories-to-shipments ratio was 1.28, up from 1.27 in September.

New Orders
New orders for manufactured durable goods in October, down two of the last three months, decreased $6.9 billion (3.4 percent) to $195.7 billion, revised from the previously published 3.3 percent decrease. This followed a 4.9 percent September increase.

Transportation equipment, also down two of the last three months, had the largest decrease, $2.8 billion (5.2 percent) to $52.3 billion.

New orders for manufactured non-durable goods increased $3.2 billion (1.5 percent) to $224.4 billion.

Shipments
Shipments of manufactured durable goods in October, also down two of the last three months, decreased $1.8 billion (0.9 percent) to $196.6 billion, unchanged from the previously published decrease. This followed a slight September increase.

Machinery, down following two consecutive monthly increases, had the largest decrease, $900 million (3.7 percent) to $24.6 billion.

Shipments of manufactured non-durable goods, up three consecutive months, increased $3.2 billion (1.5 percent) to $224.4 billion. This followed a 1.4 percent September increase. Petroleum and coal products, also up three consecutive months, drove the increase, up $3.8 billion (7.5 percent) to $54.7 billion.

Unfilled Orders
Unfilled orders for manufactured durable goods in October, up nine of the last 10 months, increased $5.2 billion (0.6 percent) to $821.6 billion, revised from the previously published 0.7 percent increase. This followed a 1.3 percent September increase.

Transportation equipment, up two consecutive months, had the largest increase, $3.7 billion (0.8 percent) to $484.2 billion.

Inventories
Inventories of manufactured durable goods in October, up 10 consecutive months, increased $1.5 billion (0.5 percent) to $316.9 billion, revised from the previously published 0.4 percent increase. This followed a 0.7 percent September increase.

Machinery, up eight consecutive months, had the largest increase, $500 million (0.9 percent) to $52.4 billion.

Inventories of manufactured non-durable goods, up three of the last four months, increased $3.2 billion (1.5 percent) to $221.3 billion. This followed a 1.7 percent September increase. Petroleum and coal products, also up three of the last four months, led the increase, up $1.6 billion (3.6 percent) to $44.7 billion.

By stage of fabrication, October materials and supplies increased 0.4 percent in durable goods and 1.0 percent in non-durable goods. Work in process increased 0.4 percent in durable goods and 2.8 percent in non-durable goods. Finished goods increased 0.5 percent in durable goods and 1.2 percent in non-durable goods.

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