The 2020 Mid-Year Economic Update_long

Durable Goods New Orders Down 4% in January

Transportation equipment posted the largest decrease, down 6.1% in January.

New orders for manufactured durable goods in January decreased $8.6 billion or 4.0 percent to $206.1 billion, the U.S. Census Bureau announced. This decrease, down following three consecutive monthly increases, followed a 3.2 percent December increase.

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Excluding transportation, new orders decreased 3.2 percent. Excluding defense, new orders decreased 4.5 percent. Transportation equipment, down following two consecutive monthly increases, had the largest decrease, $3.6 billion or 6.1 percent to $55.2 billion. This was due to nondefense aircraft and parts, which decreased $3.8 billion.

Shipments of manufactured durable goods in January, up two consecutive months, increased $0.8 billion or 0.4 percent to $207.8 billion. This followed a 1.9 percent December increase. Transportation equipment, also up two consecutive months, had the largest increase, $2.6 billion or 5.4 percent to $50.3 billion. This followed a 1.0 percent December increase.

Unfilled orders for manufactured durable goods in January, up twenty-one of the last twenty-two months, increased $4.8 billion or 0.5 percent to $917.1 billion. This followed a 1.5 percent December increase. Transportation equipment, up twelve of the last thirteen months, had the largest increase, $4.9 billion or 0.9 percent to $535.1 billion.

Inventories of manufactured durable goods in January, up twenty-five consecutive months, increased $2.6 billion or 0.7 percent to $372.5 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.3 percent December increase. Machinery, up twenty-two consecutive months, had the largest increase, $0.9 billion or 1.4 percent to $61.4 billion.

Nondefense new orders for capital goods in January decreased $5.4 billion or 6.3 percent to $79.5 billion. Shipments decreased $0.6 billion or 0.9 percent to $70.9 billion. Unfilled orders increased $8.6 billion or 1.6 percent to $554.4 billion. Inventories increased $1.7 billion or 1.0 percent to $172.0 billion. Defense new orders for capital goods in January increased $0.9 billion or 17.7 percent to $5.9 billion. Shipments decreased $0.3 billion or 3.5 percent to $7.4 billion. Unfilled orders decreased $1.4 billion or 1.0 percent to $147.2 billion. Inventories increased $0.1 billion or 0.6 percent to $20.2 billion.

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