The 2020 Mid-Year Economic Update_long

New Orders for Manufactured Goods Down 3.4% in December

Transportation equipment down 9.1 percent.

New orders for manufactured goods in December, down five consecutive months, decreased $16.4 billion or 3.4 percent to $471.5 billion, according to the U.S. Census Bureau. This followed a 1.7 percent November decrease. Excluding transportation, new orders decreased 2.3 percent.

Shipments, down four of the last five months, decreased $5.3 billion or 1.1 percent to $488.2 billion. This followed a 1 percent November decrease.

Unfilled orders, down following ten consecutive monthly increases, decreased $9.4 billion or 0.8 percent to $1,166.9 billion. This followed a 0.2 percent November increase. The unfilled orders-to-shipments ratio was 6.69, down from 6.81 in November.

Inventories, down following eighteen consecutive monthly increases, decreased $2 billion or 0.3 percent to $653.9 billion. This followed a slight November increase. The inventories-to-shipments ratio was 1.34, up from 1.33 in November.

New orders for manufactured durable goods in December, down four of the last five months, decreased $8 billion or 3.3 percent to $230.6 billion, revised from the previously published 3.4 percent decrease. This followed a 2.2 percent November decrease.

Transportation equipment, also down four of the last five months, led the decrease, $6.7 billion or 9.1 percent to $66.8 billion.

New orders for manufactured nondurable goods decreased $8.5 billion or 3.4 percent to $240.8 billion.

By stage of fabrication, December materials and supplies increased 0.6 percent in durable goods and decreased 1.1 percent in nondurable goods. Work in process increased 0.4 percent in durable goods and decreased 3.8 percent in nondurable goods. Finished goods increased 0.3 percent in durable goods and decreased 0.9 percent in nondurable goods.

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