The 2020 Mid-Year Economic Update_long

New Orders for Durable Goods Up 4.6% in December

Advance Report: New orders increased by $10 billion.

New orders for manufactured durable goods in December increased $10 billion or 4.6 percent to $230.7 billion, the U.S. Census Bureau announced in its Advance Report. This increase, up seven of the last eight months, followed a 0.7 percent November increase. 

Excluding transportation, new orders increased 1.3 percent. Excluding defense, new orders increased 1.2 percent. Transportation equipment, up following two consecutive monthly decreases, had the largest increase, $8.1 billion or 11.9 percent to $75.9 billion.

Shipments of manufactured durable goods in December, up five of the last six months, increased $2.9 billion or 1.3 percent to $230.6 billion. This followed a 1.8 percent November increase.

Primary metals, up three of the last four months, had the largest increase, $1.2 billion or 4.2 percent to $30.7 billion. This followed a 5 percent November increase.

Unfilled orders for manufactured durable goods in December, up six of the last seven months, increased $8.2 billion or 0.8 percent to $992 billion. This increase followed a slight November increase.

Transportation equipment, also up six of the last seven months, drove the increase, $9 billion or 1.6 percent to $588.8 billion.

Inventories of manufactured durable goods in December, down following 14 consecutive monthly increases, decreased $100 million to $374.5 billion. This decrease followed a 0.1 percent November increase. Machinery, down four consecutive months, drove the decrease, $400 million or 0.6 percent to $66.1 billion. 

Non-defense new orders for capital goods in December increased $2.7 billion or 3.8 percent to $73.8 billion.  Shipments increased $500 million or 0.7 percent to $71.9 billion. Unfilled orders increased $1.9 billion or 0.3 percent to $585.7 billion. Inventories decreased $600 million or 0.3 percent to $173 billion.

Defense new orders for capital goods in December increased $8.7 billion or 110.4 percent to $16.5 billion. Shipments increased $500 million or 6.1 percent to $9.1 billion. Unfilled orders increased $7.5 billion or 4.6 percent to $171.5 billion. Inventories decreased $300 million or 1.4 percent to $21.2 billion.

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