The 2020 Mid-Year Economic Update_long

Advance Report: New Orders for Durable Goods Up 0.2% in December

Increase of manufactured durable goods is the eighth in a row since May; this growth period was preceded by two decreases during the height of the coronavirus crisis.
Durable Goods December 2020

New orders for manufactured durable goods in December increased $0.4 billion, or 0.2%, to $244.2 billion, according to the U.S. Census Bureau.

This increase, up eight consecutive months, followed a 1.2% November increase. Excluding transportation, new orders increased 0.7%. Excluding defense, new orders increased 0.5%. Machinery, also up eight consecutive months, drove the increase, $0.8 billion or 2.4% to $33.2 billion.

Shipments

Shipments of manufactured durable goods in December, up seven of the last eight months, increased $3.5 billion or 1.4% to $253.8 billion. This followed a 0.4% November increase. Transportation equipment, also up seven of the last eight months, led the increase, $2.2 billion or 2.7% to $84.8 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in December, down nine of the last ten months, decreased $3.2 billion or 0.3% to $1,070.4 billion. This followed a virtually unchanged November decrease. Transportation equipment, down ten consecutive months, drove the decrease, $6.8 billion or 0.9% to $706.3 billion.

Inventories

Inventories of manufactured durable goods in December, down following three consecutive monthly increases, decreased $0.7 billion or 0.2% to $425.9 billion. This followed a 0.9% November increase. Transportation equipment, down following four consecutive monthly increases, drove the decrease, $2.8 billion or 1.8% to $148 billion.

Capital Goods

Nondefense new orders for capital goods in December decreased $1.4 billion or 2% to $70.3 billion. Shipments increased $2.4 billion or 3.3% to $74.2 billion. Unfilled orders decreased $4 billion or 0.7% to $587.7 billion. Inventories decreased $1.7 billion or 0.9% to $194.4 billion. Defense new orders for capital goods in December decreased $0.7 billion or 5.3% to $11.8 billion. Shipments decreased $0.7 billion or 5.1% to $12.7 billion. Unfilled orders decreased $1 billion or 0.5% to $177.6 billion. Inventories increased less than $0.1 billion or 0.2% to $21.1 billion

Revised November Data

Revised seasonally adjusted November figures for all manufacturing industries were: new orders, $487.8 billion (revised from $487.2 billion); shipments, $493.1 billion (revised from $492.9 billion); unfilled orders, $1,073.6 billion (revised from $1,073.2 billion) and total inventories, $693.6 billion (revised from $692.9 billion).

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