|
New orders accelerate in December
U.S. Durable Goods, Orders, Shipments, Economic Indicators
New orders increased on the faster pace again, excluding defense booking grew even faster 1.05 %. That category excludes defense and gives a better indication of longer-term trends in the private sector.Orders for U.S.-made products designed to last at least three years grew in December by 0.48 % to $245 billions, an increase of $1 billions from $244 in November on the seasonally adjusted basis, orders for machinery grew the most, up 3.04 % to $33 billions, reported by the Commerce Department. With bookings rising across the board, demand for primary metals, fabricated metal products, machinery orders, while orders for computers and related products declined. The manufacturing sector has played a vital role in the economy lately because of the reluctance of Americans to spend. Durable Goods orders increased by 1.11 % from Nov. 2019, but durable goods inventories fell by -1.85 %.
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In December total durable goods inventories declined by -0.16 % to $426 billions, a decrease by $1 billions from $427 in November on the seasonally adjusted basis, as inventories of aircrafts and parts went down -2.75 % to $79 billions, accounting for 18.45 % of total durable goods inventories. Inventory to shipments ratio fell to 1.68 from 1.71 in the previous month.
Another category of orders closely watched by economists, known as core capital goods, orders have climbed by 1.23 % on the seasonally adjusted basis and inventories by 1.23 % %. Over the last 12 months, core capital goods bookings soared by 3.43 % and shipments by 1.65 %.
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|
Manufacturing New
Orders |
Primary
Metals New Orders |
Capital
Goods New Orders |
Transp.
Equip. New Orders |
-0.29% |
-1.55% |
1.11% |
-0.98% |
-2.07% |
0.89% |
-1.04% |
-1.47% |
M/M |
Y/Y |
M/M |
Y/Y |
M/M |
Y/Y |
M/M |
Y/Y |
|
Unfilled orders fell by -0.23 % on the seasonally adjusted basis, led by -1.23 % decrease in defense aircraft and parts unfilled bookings, representing 7.34 % of total durable goods unfilled orders. Government purchases of defense products are uneven and can sometimes distort the data.. total durable goods inventories dropped by -7.64 % from Nov. 2019.
Shipments of U.S.-made products designed to last three years or more, such as autos or appliances increased in December on the seasonally adjusted basis by 1.48 % to $254 billions, an increase of $4 billions from $250 in November, reported by the Commerce Department. Shipments excluding the volatile transportation sector, grew by 0.74 %.
|
|
|
New Orders / Shipments Ratio |
Inventory / Shipments Ratio |
New orders / shipments ratio for total durable goods was 0.97. Excluding transportation new orders / shipments ratio was 0.99. Excluding defense new orders / shipments ratio was 0.97.
|
Inventory / shipments ratio for total durable goods was 1.68. Excluding
transportation Inventory / shipments ratio was 1.64. Excluding defense Inventory
/ shipments ratio was 1.67.
|
|
Shipments Seasonally Adjusted, in millions $ |
Dec. 2020
adv. |
Nov. 2020
adv. |
Oct. 2020
adv. |
Sep. 2020
adv. |
Aug. 2020
adv. |
July 2020
adv. |
Total |
|
253,795 |
250,096 |
248,694 |
245,565 |
244,137 |
244,013 |
Excluding transportation |
|
169,024 |
167,777 |
166,992 |
163,732 |
162,500 |
160,851 |
Excluding defense |
|
239,509 |
234,963 |
234,250 |
231,774 |
230,260 |
229,986 |
Manufacturing with
unfilled orders |
|
169,845 |
167,928 |
168,129 |
163,739 |
163,365 |
161,460 |
Primary metals |
|
19,654 |
19,183 |
18,792 |
18,366 |
18,288 |
18,080 |
Fabricated metal products |
|
31,206 |
31,041 |
30,863 |
30,136 |
30,073 |
29,910 |
Machinery |
|
31,801 |
31,650 |
31,406 |
31,019 |
31,056 |
30,332 |
Computers & electronic
products |
|
30,812 |
30,786 |
31,040 |
30,395 |
29,741 |
29,563 |
Computers & related products |
|
1,848 |
1,930 |
1,902 |
1,804 |
1,919 |
1,821 |
Communications equipment |
|
4,473 |
4,446 |
4,667 |
4,248 |
4,153 |
4,075 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
10,877 |
10,895 |
10,933 |
10,540 |
10,507 |
10,519 |
Transportation equipment |
|
84,771 |
82,319 |
81,702 |
81,833 |
81,637 |
83,162 |
Motor vehicles & parts |
|
3,564 |
4,235 |
4,201 |
62,052 |
4,111 |
4,265 |
Nondefense Aircraft & parts |
|
63,096 |
61,896 |
60,119 |
5,110 |
61,328 |
64,205 |
Defense Aircraft & parts |
|
6,258 |
4,276 |
6,313 |
3,742 |
5,331 |
3,947 |
All other durable
goods |
|
44,674 |
44,222 |
43,958 |
43,276 |
42,835 |
42,447 |
Capital goods |
|
86,945 |
85,191 |
85,741 |
82,744 |
82,262 |
79,865 |
Nondefense capital goods |
|
74,219 |
71,804 |
73,212 |
70,614 |
70,062 |
67,550 |
Excluding aircraft |
|
70,208 |
69,888 |
69,380 |
67,800 |
67,165 |
65,906 |
Defense capital goods |
|
12,726 |
13,387 |
12,529 |
12,130 |
12,200 |
12,315 |
New Orders Seasonally Adjusted, in millions $ |
Dec. 2020
adv. |
Nov. 2020
adv. |
Oct. 2020
adv. |
Sep. 2020
adv. |
Aug. 2020
adv. |
July 2020
adv. |
Total |
|
245,325 |
244,161 |
240,769 |
237,751 |
232,841 |
230,672 |
Excluding transportation |
|
167,305 |
165,322 |
163,652 |
161,542 |
158,072 |
155,928 |
Excluding defense |
|
232,537 |
230,123 |
227,040 |
226,679 |
217,758 |
215,011 |
Manufacturing with
unfilled orders |
|
166,624 |
167,108 |
165,378 |
161,210 |
157,036 |
153,237 |
Primary metals |
|
19,890 |
19,672 |
19,436 |
19,355 |
18,416 |
17,895 |
Fabricated metal products |
|
32,110 |
31,794 |
31,845 |
31,132 |
30,055 |
29,951 |
Machinery |
|
33,156 |
32,179 |
31,581 |
31,770 |
31,195 |
30,509 |
Computers & electronic
products |
|
26,241 |
26,351 |
25,972 |
25,187 |
24,894 |
24,389 |
Computers & related products |
|
1,902 |
1,963 |
1,912 |
1,825 |
1,901 |
1,809 |
Communications equipment |
|
4,740 |
4,852 |
4,624 |
4,268 |
4,244 |
4,021 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
11,231 |
11,105 |
10,884 |
10,781 |
10,672 |
10,730 |
Transportation equipment |
|
78,020 |
78,839 |
77,117 |
76,209 |
74,769 |
74,744 |
Motor vehicles & parts |
|
2,848 |
3,266 |
2,957 |
62,105 |
4,321 |
4,665 |
Nondefense Aircraft & parts |
|
63,155 |
62,051 |
60,109 |
1,905 |
61,438 |
64,226 |
Defense Aircraft & parts |
|
1,143 |
2,291 |
2,645 |
1,651 |
-2,784 |
-5,801 |
All other durable
goods |
|
44,677 |
44,221 |
43,934 |
43,317 |
42,840 |
42,454 |
Capital goods |
|
82,021 |
83,751 |
83,218 |
81,001 |
76,583 |
72,067 |
Nondefense capital goods |
|
70,268 |
71,236 |
70,473 |
70,644 |
62,927 |
58,038 |
Excluding aircraft |
|
71,772 |
70,901 |
70,025 |
69,510 |
67,703 |
66,099 |
Defense capital goods |
|
11,753 |
12,515 |
12,745 |
10,357 |
13,656 |
14,029 |
New Orders Seasonally Adjusted, in millions $ |
Dec. 2020
adv. |
Nov. 2020
adv. |
Oct. 2020
adv. |
Sep. 2020
adv. |
Aug. 2020
adv. |
July 2020
adv. |
Total |
|
245,325 |
244,161 |
240,769 |
237,751 |
232,841 |
230,672 |
Excluding transportation |
|
167,305 |
165,322 |
163,652 |
161,542 |
158,072 |
155,928 |
Excluding defense |
|
232,537 |
230,123 |
227,040 |
226,679 |
217,758 |
215,011 |
Manufacturing with
unfilled orders |
|
166,624 |
167,108 |
165,378 |
161,210 |
157,036 |
153,237 |
Primary metals |
|
19,890 |
19,672 |
19,436 |
19,355 |
18,416 |
17,895 |
Fabricated metal products |
|
32,110 |
31,794 |
31,845 |
31,132 |
30,055 |
29,951 |
Machinery |
|
33,156 |
32,179 |
31,581 |
31,770 |
31,195 |
30,509 |
Computers & electronic
products |
|
26,241 |
26,351 |
25,972 |
25,187 |
24,894 |
24,389 |
Computers & related products |
|
1,902 |
1,963 |
1,912 |
1,825 |
1,901 |
1,809 |
Communications equipment |
|
4,740 |
4,852 |
4,624 |
4,268 |
4,244 |
4,021 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
11,231 |
11,105 |
10,884 |
10,781 |
10,672 |
10,730 |
Transportation equipment |
|
78,020 |
78,839 |
77,117 |
76,209 |
74,769 |
74,744 |
Motor vehicles & parts |
|
2,848 |
3,266 |
2,957 |
62,105 |
4,321 |
4,665 |
Nondefense Aircraft & parts |
|
63,155 |
62,051 |
60,109 |
1,905 |
61,438 |
64,226 |
Defense Aircraft & parts |
|
1,143 |
2,291 |
2,645 |
1,651 |
-2,784 |
-5,801 |
All other durable
goods |
|
44,677 |
44,221 |
43,934 |
43,317 |
42,840 |
42,454 |
Capital goods |
|
82,021 |
83,751 |
83,218 |
81,001 |
76,583 |
72,067 |
Nondefense capital goods |
|
70,268 |
71,236 |
70,473 |
70,644 |
62,927 |
58,038 |
Excluding aircraft |
|
71,772 |
70,901 |
70,025 |
69,510 |
67,703 |
66,099 |
Defense capital goods |
|
11,753 |
12,515 |
12,745 |
10,357 |
13,656 |
14,029 |
Unfilled Orders Seasonally Adjusted, in millions $ |
Dec. 2020
adv. |
Nov. 2020
adv. |
Oct. 2020
adv. |
Sep. 2020
adv. |
Aug. 2020
adv. |
July 2020
adv. |
Total |
|
1,070,372 |
1,072,883 |
1,073,151 |
1,073,151 |
1,078,447 |
1,084,435 |
Excluding transportation |
|
364,035 |
359,560 |
356,191 |
356,191 |
350,432 |
349,266 |
Excluding defense |
|
855,421 |
856,079 |
855,023 |
855,023 |
856,316 |
863,559 |
Manufacturing with
unfilled orders |
|
1,070,372 |
1,072,883 |
1,073,151 |
1,073,151 |
1,078,447 |
1,084,435 |
Primary metals |
|
33,393 |
33,071 |
32,463 |
32,463 |
30,770 |
30,375 |
Fabricated metal products |
|
77,371 |
76,276 |
75,381 |
75,381 |
72,957 |
72,719 |
Machinery |
|
100,937 |
99,307 |
98,587 |
98,587 |
97,356 |
97,204 |
Computers & electronic
products |
|
120,463 |
119,686 |
118,814 |
118,814 |
118,798 |
118,661 |
Computers & related products |
|
1,956 |
1,889 |
1,866 |
1,866 |
1,835 |
1,852 |
Communications equipment |
|
26,298 |
26,099 |
25,586 |
25,586 |
25,657 |
25,498 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
23,138 |
22,564 |
22,319 |
22,319 |
22,042 |
21,829 |
Transportation equipment |
|
706,337 |
713,323 |
716,960 |
716,960 |
728,015 |
735,169 |
Motor vehicles & parts |
|
21,560 |
21,460 |
21,206 |
21,206 |
21,131 |
21,221 |
Nondefense Aircraft & parts |
|
470,278 |
475,370 |
477,606 |
477,606 |
484,883 |
493,167 |
Defense Aircraft & parts |
|
78,529 |
79,504 |
80,627 |
80,627 |
84,291 |
84,137 |
All other durable
goods |
|
8,733 |
8,656 |
8,627 |
8,627 |
8,509 |
8,478 |
Capital goods |
|
765,251 |
769,807 |
771,035 |
771,035 |
775,335 |
780,785 |
Nondefense capital goods |
|
587,684 |
591,152 |
591,326 |
591,326 |
593,712 |
600,777 |
Excluding aircraft |
|
224,152 |
222,075 |
220,671 |
220,671 |
217,953 |
217,295 |
Defense capital goods |
|
177,567 |
178,655 |
179,709 |
179,709 |
181,623 |
180,008 |
Total Inventories Seasonally Adjusted, in millions $ |
Dec. 2020
adv. |
Nov. 2020
adv. |
Oct. 2020
adv. |
Sep. 2020
adv. |
Aug. 2020
adv. |
July 2020
adv. |
Total |
|
425,948 |
426,615 |
422,751 |
422,751 |
420,460 |
422,572 |
Excluding transportation |
|
277,983 |
275,921 |
274,596 |
274,596 |
273,938 |
276,083 |
Excluding defense |
|
400,645 |
401,379 |
397,096 |
397,096 |
395,057 |
397,187 |
Manufacturing with
unfilled orders |
|
347,834 |
347,824 |
345,115 |
345,115 |
343,323 |
345,140 |
Primary metals |
|
34,317 |
33,797 |
33,592 |
33,592 |
33,028 |
33,536 |
Fabricated metal products |
|
52,217 |
51,778 |
51,403 |
51,403 |
51,261 |
51,886 |
Machinery |
|
69,841 |
69,313 |
68,839 |
68,839 |
69,128 |
69,710 |
Computers & electronic
products |
|
43,647 |
43,530 |
43,602 |
43,602 |
43,850 |
43,995 |
Computers & related products |
|
3,986 |
3,911 |
3,914 |
3,914 |
3,852 |
3,860 |
Communications equipment |
|
5,262 |
5,257 |
5,291 |
5,291 |
5,238 |
5,239 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
20,022 |
19,865 |
19,680 |
19,680 |
19,700 |
19,828 |
Transportation equipment |
|
147,965 |
150,694 |
148,155 |
148,155 |
146,522 |
146,489 |
Motor vehicles & parts |
|
39,596 |
40,250 |
39,135 |
39,135 |
39,062 |
39,387 |
Nondefense Aircraft & parts |
|
78,582 |
80,802 |
79,151 |
79,151 |
78,066 |
77,854 |
Defense Aircraft & parts |
|
12,383 |
12,359 |
12,451 |
12,451 |
12,449 |
12,447 |
All other durable
goods |
|
57,939 |
57,638 |
57,480 |
57,480 |
56,971 |
57,128 |
Capital goods |
|
215,492 |
217,104 |
215,062 |
215,062 |
214,162 |
214,457 |
Nondefense capital goods |
|
194,410 |
196,070 |
193,609 |
193,609 |
193,002 |
193,298 |
Excluding aircraft |
|
128,380 |
127,769 |
127,097 |
127,097 |
127,654 |
127,990 |
Defense capital goods |
|
21,082 |
21,034 |
21,453 |
21,453 |
21,160 |
21,159 |
Inventory/Shipments ratio Seasonally Adjusted |
Dec. 2020
adv. |
Nov. 2020
adv. |
Oct. 2020
adv. |
Sep. 2020
adv. |
Aug. 2020
adv. |
July 2020
adv. |
Total |
|
1.68 |
1.71 |
1.70 |
1.72 |
1.72 |
1.73 |
Excluding transportation |
|
1.64 |
1.64 |
1.64 |
1.68 |
1.69 |
1.72 |
Excluding defense |
|
1.67 |
1.71 |
1.70 |
1.71 |
1.72 |
1.73 |
Manufacturing with
unfilled orders |
|
2.05 |
2.07 |
2.05 |
2.11 |
2.10 |
2.14 |
Primary metals |
|
1.75 |
1.76 |
1.79 |
1.83 |
1.81 |
1.85 |
Fabricated metal products |
|
1.67 |
1.67 |
1.67 |
1.71 |
1.70 |
1.73 |
Machinery |
|
2.20 |
2.19 |
2.19 |
2.22 |
2.23 |
2.30 |
Computers & electronic
products |
|
1.42 |
1.41 |
1.40 |
1.43 |
1.47 |
1.49 |
Computers & related products |
|
2.16 |
2.03 |
2.06 |
2.17 |
2.01 |
2.12 |
Communications equipment |
|
1.18 |
1.18 |
1.13 |
1.25 |
1.26 |
1.29 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
1.84 |
1.82 |
1.80 |
1.87 |
1.87 |
1.88 |
Transportation equipment |
|
1.75 |
1.83 |
1.81 |
1.81 |
1.79 |
1.76 |
Motor vehicles & parts |
|
0.63 |
0.65 |
0.65 |
0.63 |
0.64 |
0.61 |
Nondefense Aircraft & parts |
|
12.56 |
18.90 |
12.54 |
15.49 |
14.64 |
19.72 |
Defense Aircraft & parts |
|
3.47 |
2.92 |
2.96 |
3.33 |
3.03 |
2.92 |
All other durable
goods |
|
1.30 |
1.30 |
1.31 |
1.33 |
1.33 |
1.35 |
Capital goods |
|
2.48 |
2.55 |
2.51 |
2.60 |
2.60 |
2.69 |
Nondefense capital goods |
|
2.62 |
2.73 |
2.64 |
2.74 |
2.75 |
2.86 |
Excluding aircraft |
|
1.83 |
1.83 |
1.83 |
1.87 |
1.90 |
1.94 |
Defense capital goods |
|
1.66 |
1.57 |
1.71 |
1.77 |
1.73 |
1.72 |
|