Advance Report: New Orders for Durable Goods Up 1.3% in October

Increase of manufactured durable goods is the sixth in a row following growth in May, June, July, August and September — all of which had been preceded by two decreases during the height of the coronavirus crisis.
New Orders for Durable Goods April 2021

New orders for manufactured durable goods in October increased $3 billion, or 1.3%, to $240.8 billion, according to the U.S. Census Bureau.

This increase, up six consecutive months, followed a 2.1% September increase. Excluding transportation, new orders increased 1.3%. Excluding defense, new orders increased 0.2%. Transportation equipment, up five of the last six months, led the increase, $0.9 billion or 1.2% to $77.1 billion.

Shipments

Shipments of manufactured durable goods in October, up five of the last six months, increased $3.1 billion or 1.3% to $248.7 billion. This followed a 0.5% September increase. Fabricated metal products, also up five of the last six months, led the increase, $0.7 billion or 2.4% to $30.9 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in October, down seven of the last eight months, decreased $2.8 billion or 0.3% to $1,073.2 billion. This followed a 0.2% September decrease. Transportation equipment, down eight consecutive months, drove the decrease, $4.6 billion or 0.6% to $717 billion.

Inventories

Inventories of manufactured durable goods in October, up two consecutive months, increased $1.3 billion or 0.3% to $422.8 billion. This followed a 0.3% September increase. Transportation equipment, up twenty-five of the last twenty-six months, led the increase, $0.6 billion or 0.4% to $148.2 billion.

Capital Goods

Nondefense new orders for capital goods in October decreased $0.2 billion or 0.2% to $70.5 billion. Shipments increased $2.6 billion or 3.7% to $73.2 billion. Unfilled orders decreased $2.7 billion or 0.5% to $591.3 billion. Inventories increased $0.1 billion or virtually unchanged to $193.6 billion. Defense new orders for capital goods in October increased $2.4 billion or 23.1% to $12.7 billion. Shipments increased $0.4 billion or 3.3% to $12.5 billion. Unfilled orders increased $0.2 billion or 0.1% to $179.7 billion. Inventories decreased $0.1 billion or 0.3% to $21.5 billion.

Revised August Data

Revised seasonally adjusted September figures for all manufacturing industries were: new orders, $476 billion (revised from $475 billion); shipments, $483.9 billion (revised from $482.8 billion); unfilled orders, $1,075.9 billion (unchanged) and total inventories, $686.2 billion (revised from $686.7 billion).

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