The 2020 Mid-Year Economic Update_long

New Orders for Durable Goods Decline

Excluding transportation, orders were down 1.3%; excluding just defense, new orders increased 0.4%.
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New orders for manufactured durable goods in October decreased $1 billion or 0.6% to $166.2 billion, the U.S. Census Bureau announced. This was the second monthly decrease in the last three months. This followed a 2% September increase. Excluding transportation, new orders decreased 1.3%. Excluding defense, new orders increased 0.4%.

Machinery, down following two consecutive monthly increases, had the largest decrease, $1.9 billion or 8% to $21.8 billion.
 
Shipments
Shipments of manufactured durable goods in October, down two of the last three months, decreased $0.3 billion or 0.2% to $173.8 billion. This followed a 1.6% September increase.
 
Transportation equipment, also down two of the last three months, had the largest decrease, $1.9 billion or 4.2% to $43.4 billion. This was led by defense aircraft and parts, which decreased $1 billion.
 
Unfilled Orders
Unfilled orders for manufactured durable goods in October, down thirteen consecutive months, decreased $3.0 billion or 0.4% to $730.4 billion. This was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992 and followed a 0.4% September decrease.
 
Transportation equipment, down twelve of the last 13 months, had the largest decrease, $2.2 billion or 0.5% to $424.3 billion.
 
Inventories
Inventories of manufactured durable goods in October, down ten consecutive months, decreased $0.1 billion to $304.2 billion. This followed a 1.2% September decrease.
 
Fabricated metal products, down thirteen consecutive months, had the largest decrease, $0.2 billion or 0.7% to $36.7 billion.
 
Capital Goods
Nondefense new orders for capital goods in October increased $0.6 billion or 1.2% to $54.6 billion. Shipments decreased $0.9 billion or 1.6% to $56.0 billion. Unfilled orders decreased $1.4 billion or 0.3% to $418.2 billion. Inventories increased $0.3 billion or 0.2% to $132.3 billion.
 
Defense new orders for capital goods in October decreased $1.9 billion or 18.4% to $8.5 billion. Shipments decreased $0.4 billion or 3.8% to $11 billion. Unfilled orders decreased $2.4 billion or 1.7% to $137.3 billion. Inventories increased $0.5 billion or 2.5% to $20.3 billion.

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