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New Orders on the rise again in December
U.S. Durable Goods, Orders, Shipments, Economic Indicators
Americans continued to buy big-ticket items after the recent pullback, but Shipments of durable goods fell by -0.35 % to $282 billions.The Commerce Department announced orders for U.S. durable goods edge up by 0.07 % to $296 billions, an increase of $0 billions from $295 in November in December on the seasonally adjusted basis, led by 8.85 % growth in communications equipment orders, representing 1.15 % of total bookings. Primary metals, fabricated metal products and communications equipment orders grew above averge in the last month. The growth in the manufacturing sector indicates that the recent decline in new orders is a temporary lull - but another poor report could renew worries over the U.S. growth. New orders for U.S.-made big-ticket items rose by 3.02 % in the past 12 months, and unfilled orders by 20.30 %.
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In December total durable goods shipments fell by -0.35 % to $282 billions, a decrease by $1 billions from $283 in November on the seasonally adjusted basis. Excluding transportation shipments fell by -0.13 %.
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|
Manufacturing New
Orders |
Primary
Metals New Orders |
Capital
Goods New Orders |
Transp.
Equip. New Orders |
0.15% |
4.75% |
1.65% |
35.30% |
-0.79% |
-1.21% |
-0.90% |
-1.14% |
M/M |
Y/Y |
M/M |
Y/Y |
M/M |
Y/Y |
M/M |
Y/Y |
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In addition, new orders of core capital-equipment goods, which the government uses to help calculate gross domestic product, orders jumped and accelerated by 0.49 % on the seasonally adjusted basis and shipments by 0.08 %. Over the past 12 months, core capital goods bookings decreased by -0.73 %, but inventories grew by 6.90 %.
Inventories grew in December by 0.43 % to $527 billions, an increase of $2 billions from $525 in November on the seasonally adjusted basis, as inventories of computers and related products grew the most, up 3.39 % to $4 billions, reported by the Commerce Department. Inventory to shipments ratio grew to 1.87 from 1.85 in the previous month.
Unfilled orders continue to grow by higher rate, unfilled orders rose by 1.34 % on the seasonally adjusted basis, as unfilled orders for aircrafts and parts grew 3.35 % to $645 billions. Compare to a year ago Unfilled orders soared by 20.30 %.
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New Orders / Shipments Ratio |
Inventory / Shipments Ratio |
New orders / shipments ratio for total durable goods was 1.05. Excluding transportation new orders / shipments ratio was 0.98. Excluding defense new orders / shipments ratio was 1.06.
|
Inventory / shipments ratio for total durable goods was 1.87. Excluding
transportation Inventory / shipments ratio was 1.87. Excluding defense Inventory
/ shipments ratio was 1.87.
|
|
Shipments Seasonally Adjusted, in millions $ |
Dec. 2023
adv. |
Nov. 2023
adv. |
Oct. 2023
adv. |
Sep. 2023
adv. |
Aug. 2023
rest. |
July 2023
adv. |
Total |
|
282,191 |
283,190 |
280,356 |
283,719 |
284,534 |
283,608 |
Excluding transportation |
|
192,686 |
192,938 |
191,981 |
192,352 |
192,120 |
191,964 |
Excluding defense |
|
266,156 |
266,780 |
264,072 |
267,823 |
268,652 |
268,006 |
Manufacturing with
unfilled orders |
|
196,955 |
197,794 |
196,484 |
196,869 |
196,868 |
196,109 |
Primary metals |
|
26,756 |
26,622 |
26,272 |
26,410 |
26,525 |
26,766 |
Fabricated metal products |
|
36,471 |
36,346 |
35,934 |
36,137 |
35,786 |
35,819 |
Machinery |
|
37,605 |
37,986 |
38,318 |
38,178 |
38,329 |
37,864 |
Computers & electronic
products |
|
29,707 |
29,835 |
29,613 |
29,608 |
29,423 |
29,343 |
Computers & related products |
|
2,059 |
2,112 |
2,056 |
2,046 |
2,055 |
1,965 |
Communications equipment |
|
3,014 |
3,040 |
3,029 |
3,057 |
3,013 |
3,033 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
14,196 |
14,182 |
14,211 |
14,243 |
14,194 |
14,055 |
Transportation equipment |
|
89,505 |
90,252 |
88,375 |
91,367 |
92,414 |
91,644 |
Motor vehicles & parts |
|
4,850 |
4,894 |
4,912 |
4,523 |
4,688 |
4,786 |
Nondefense Aircraft & parts |
|
61,253 |
61,034 |
59,354 |
62,604 |
63,290 |
63,044 |
Defense Aircraft & parts |
|
13,199 |
14,070 |
13,284 |
13,515 |
13,566 |
13,183 |
All other durable
goods |
|
47,951 |
47,967 |
47,633 |
47,776 |
47,863 |
48,117 |
Capital goods |
|
96,293 |
97,340 |
96,786 |
96,742 |
96,935 |
95,691 |
Nondefense capital goods |
|
82,497 |
83,215 |
82,894 |
83,127 |
83,301 |
82,361 |
Excluding aircraft |
|
74,160 |
74,102 |
74,351 |
74,381 |
74,417 |
73,806 |
Defense capital goods |
|
13,796 |
14,125 |
13,892 |
13,615 |
13,634 |
13,330 |
New Orders Seasonally Adjusted, in millions $ |
Dec. 2023
adv. |
Nov. 2023
adv. |
Oct. 2023
adv. |
Sep. 2023
adv. |
Aug. 2023
rest. |
July 2023
adv. |
Total |
|
295,559 |
295,357 |
279,441 |
297,243 |
284,027 |
285,931 |
Excluding transportation |
|
188,729 |
187,560 |
187,373 |
188,028 |
187,152 |
187,240 |
Excluding defense |
|
281,888 |
279,605 |
261,629 |
282,483 |
267,038 |
270,871 |
Manufacturing with
unfilled orders |
|
215,250 |
214,926 |
200,524 |
215,380 |
201,256 |
203,395 |
Primary metals |
|
27,078 |
26,639 |
26,457 |
26,518 |
26,627 |
26,977 |
Fabricated metal products |
|
36,691 |
36,414 |
36,504 |
36,332 |
36,020 |
35,874 |
Machinery |
|
37,506 |
37,565 |
37,797 |
38,119 |
37,777 |
37,747 |
Computers & electronic
products |
|
24,965 |
24,792 |
24,790 |
24,854 |
24,613 |
24,439 |
Computers & related products |
|
2,062 |
2,106 |
2,048 |
2,045 |
2,042 |
1,977 |
Communications equipment |
|
3,393 |
3,117 |
3,081 |
3,277 |
3,114 |
2,989 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
14,425 |
14,082 |
14,216 |
14,468 |
14,339 |
14,373 |
Transportation equipment |
|
106,830 |
107,797 |
92,068 |
109,215 |
96,875 |
98,691 |
Motor vehicles & parts |
|
4,172 |
4,584 |
4,996 |
4,918 |
5,800 |
4,751 |
Nondefense Aircraft & parts |
|
61,150 |
60,830 |
59,403 |
62,730 |
63,347 |
63,182 |
Defense Aircraft & parts |
|
33,211 |
32,347 |
16,146 |
32,348 |
16,806 |
21,166 |
All other durable
goods |
|
48,064 |
48,068 |
47,609 |
47,737 |
47,776 |
47,830 |
Capital goods |
|
114,144 |
115,053 |
100,898 |
114,194 |
100,254 |
102,193 |
Nondefense capital goods |
|
103,044 |
101,410 |
85,254 |
101,942 |
85,943 |
89,848 |
Excluding aircraft |
|
74,332 |
73,973 |
73,794 |
74,462 |
74,045 |
73,629 |
Defense capital goods |
|
11,100 |
13,643 |
15,644 |
12,252 |
14,311 |
12,345 |
New Orders Seasonally Adjusted, in millions $ |
Dec. 2023
adv. |
Nov. 2023
adv. |
Oct. 2023
adv. |
Sep. 2023
adv. |
Aug. 2023
rest. |
July 2023
adv. |
Total |
|
295,559 |
295,357 |
279,441 |
297,243 |
284,027 |
285,931 |
Excluding transportation |
|
188,729 |
187,560 |
187,373 |
188,028 |
187,152 |
187,240 |
Excluding defense |
|
281,888 |
279,605 |
261,629 |
282,483 |
267,038 |
270,871 |
Manufacturing with
unfilled orders |
|
215,250 |
214,926 |
200,524 |
215,380 |
201,256 |
203,395 |
Primary metals |
|
27,078 |
26,639 |
26,457 |
26,518 |
26,627 |
26,977 |
Fabricated metal products |
|
36,691 |
36,414 |
36,504 |
36,332 |
36,020 |
35,874 |
Machinery |
|
37,506 |
37,565 |
37,797 |
38,119 |
37,777 |
37,747 |
Computers & electronic
products |
|
24,965 |
24,792 |
24,790 |
24,854 |
24,613 |
24,439 |
Computers & related products |
|
2,062 |
2,106 |
2,048 |
2,045 |
2,042 |
1,977 |
Communications equipment |
|
3,393 |
3,117 |
3,081 |
3,277 |
3,114 |
2,989 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
14,425 |
14,082 |
14,216 |
14,468 |
14,339 |
14,373 |
Transportation equipment |
|
106,830 |
107,797 |
92,068 |
109,215 |
96,875 |
98,691 |
Motor vehicles & parts |
|
4,172 |
4,584 |
4,996 |
4,918 |
5,800 |
4,751 |
Nondefense Aircraft & parts |
|
61,150 |
60,830 |
59,403 |
62,730 |
63,347 |
63,182 |
Defense Aircraft & parts |
|
33,211 |
32,347 |
16,146 |
32,348 |
16,806 |
21,166 |
All other durable
goods |
|
48,064 |
48,068 |
47,609 |
47,737 |
47,776 |
47,830 |
Capital goods |
|
114,144 |
115,053 |
100,898 |
114,194 |
100,254 |
102,193 |
Nondefense capital goods |
|
103,044 |
101,410 |
85,254 |
101,942 |
85,943 |
89,848 |
Excluding aircraft |
|
74,332 |
73,973 |
73,794 |
74,462 |
74,045 |
73,629 |
Defense capital goods |
|
11,100 |
13,643 |
15,644 |
12,252 |
14,311 |
12,345 |
Unfilled Orders Seasonally Adjusted, in millions $ |
Dec. 2023
adv. |
Nov. 2023
adv. |
Oct. 2023
adv. |
Sep. 2023
adv. |
Aug. 2023
rest. |
July 2023
adv. |
Total |
|
1,393,373 |
1,374,909 |
1,356,863 |
1,353,774 |
1,335,263 |
1,332,193 |
Excluding transportation |
|
497,658 |
496,530 |
497,660 |
498,033 |
497,370 |
498,041 |
Excluding defense |
|
1,152,838 |
1,131,199 |
1,112,290 |
1,110,935 |
1,091,288 |
1,089,506 |
Manufacturing with
unfilled orders |
|
1,393,373 |
1,374,909 |
1,356,863 |
1,353,774 |
1,335,263 |
1,332,193 |
Primary metals |
|
38,769 |
38,463 |
38,537 |
38,298 |
38,190 |
38,027 |
Fabricated metal products |
|
130,063 |
129,890 |
130,032 |
129,432 |
129,237 |
129,008 |
Machinery |
|
136,909 |
137,091 |
137,664 |
138,448 |
138,507 |
139,377 |
Computers & electronic
products |
|
135,146 |
134,848 |
134,980 |
135,029 |
134,796 |
134,836 |
Computers & related products |
|
1,272 |
1,269 |
1,275 |
1,283 |
1,284 |
1,297 |
Communications equipment |
|
17,935 |
17,440 |
17,362 |
17,419 |
17,199 |
17,125 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
43,959 |
43,582 |
43,930 |
44,215 |
43,990 |
44,027 |
Transportation equipment |
|
895,715 |
878,379 |
859,203 |
855,741 |
837,893 |
834,152 |
Motor vehicles & parts |
|
35,035 |
35,144 |
35,360 |
35,331 |
35,205 |
35,365 |
Nondefense Aircraft & parts |
|
644,664 |
623,769 |
603,803 |
601,260 |
582,427 |
579,937 |
Defense Aircraft & parts |
|
72,146 |
73,117 |
73,465 |
73,411 |
73,016 |
71,751 |
All other durable
goods |
|
12,812 |
12,656 |
12,517 |
12,611 |
12,650 |
12,766 |
Capital goods |
|
1,050,141 |
1,031,901 |
1,012,959 |
1,009,503 |
992,051 |
989,900 |
Nondefense capital goods |
|
841,999 |
820,347 |
800,692 |
799,287 |
780,472 |
779,073 |
Excluding aircraft |
|
270,278 |
270,038 |
270,416 |
271,618 |
271,537 |
272,379 |
Defense capital goods |
|
208,142 |
211,554 |
212,267 |
210,216 |
211,579 |
210,827 |
Total Inventories Seasonally Adjusted, in millions $ |
Dec. 2023
adv. |
Nov. 2023
adv. |
Oct. 2023
adv. |
Sep. 2023
adv. |
Aug. 2023
rest. |
July 2023
adv. |
Total |
|
527,047 |
524,781 |
525,111 |
523,701 |
523,164 |
522,239 |
Excluding transportation |
|
359,384 |
358,848 |
359,207 |
359,136 |
358,747 |
358,527 |
Excluding defense |
|
497,181 |
495,090 |
495,688 |
494,300 |
493,627 |
492,851 |
Manufacturing with
unfilled orders |
|
426,542 |
424,701 |
424,557 |
423,409 |
423,110 |
422,239 |
Primary metals |
|
45,582 |
45,888 |
46,106 |
46,417 |
46,490 |
46,548 |
Fabricated metal products |
|
64,805 |
64,811 |
64,756 |
64,737 |
64,787 |
64,818 |
Machinery |
|
95,547 |
94,931 |
95,107 |
95,075 |
94,760 |
94,827 |
Computers & electronic
products |
|
55,640 |
55,403 |
55,332 |
55,173 |
55,127 |
54,934 |
Computers & related products |
|
3,572 |
3,455 |
3,458 |
3,543 |
3,533 |
3,570 |
Communications equipment |
|
4,989 |
5,049 |
5,033 |
5,044 |
5,019 |
5,001 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
26,583 |
26,530 |
26,411 |
26,424 |
26,390 |
26,371 |
Transportation equipment |
|
167,663 |
165,933 |
165,904 |
164,565 |
164,417 |
163,712 |
Motor vehicles & parts |
|
54,367 |
54,263 |
54,622 |
54,077 |
53,713 |
53,518 |
Nondefense Aircraft & parts |
|
79,881 |
78,659 |
78,300 |
77,546 |
77,582 |
77,249 |
Defense Aircraft & parts |
|
13,982 |
13,919 |
14,081 |
14,062 |
14,075 |
14,126 |
All other durable
goods |
|
71,227 |
71,285 |
71,495 |
71,310 |
71,193 |
71,029 |
Capital goods |
|
254,057 |
251,917 |
251,472 |
250,894 |
250,422 |
249,190 |
Nondefense capital goods |
|
229,438 |
227,436 |
227,279 |
226,713 |
226,094 |
225,032 |
Excluding aircraft |
|
163,721 |
162,720 |
163,018 |
163,137 |
162,508 |
161,949 |
Defense capital goods |
|
24,619 |
24,481 |
24,193 |
24,181 |
24,328 |
24,158 |
Inventory/Shipments ratio Seasonally Adjusted |
Dec. 2023
adv. |
Nov. 2023
adv. |
Oct. 2023
adv. |
Sep. 2023
adv. |
Aug. 2023
rest. |
July 2023
adv. |
Total |
|
1.87 |
1.85 |
1.87 |
1.85 |
1.84 |
1.84 |
Excluding transportation |
|
1.87 |
1.86 |
1.87 |
1.87 |
1.87 |
1.87 |
Excluding defense |
|
1.87 |
1.86 |
1.88 |
1.85 |
1.84 |
1.84 |
Manufacturing with
unfilled orders |
|
2.17 |
2.15 |
2.16 |
2.15 |
2.15 |
2.15 |
Primary metals |
|
1.70 |
1.72 |
1.75 |
1.76 |
1.75 |
1.74 |
Fabricated metal products |
|
1.78 |
1.78 |
1.80 |
1.79 |
1.81 |
1.81 |
Machinery |
|
2.54 |
2.50 |
2.48 |
2.49 |
2.47 |
2.50 |
Computers & electronic
products |
|
1.87 |
1.86 |
1.87 |
1.86 |
1.87 |
1.87 |
Computers & related products |
|
1.73 |
1.64 |
1.68 |
1.73 |
1.72 |
1.82 |
Communications equipment |
|
1.66 |
1.66 |
1.66 |
1.65 |
1.67 |
1.65 |
Semiconductors |
|
- |
- |
- |
- |
- |
- |
Electrical equipment,
appliances & components |
|
1.87 |
1.87 |
1.86 |
1.86 |
1.86 |
1.88 |
Transportation equipment |
|
1.87 |
1.84 |
1.88 |
1.80 |
1.78 |
1.79 |
Motor vehicles & parts |
|
0.89 |
0.89 |
0.92 |
0.86 |
0.85 |
0.85 |
Nondefense Aircraft & parts |
|
6.05 |
5.59 |
5.89 |
5.74 |
5.72 |
5.86 |
Defense Aircraft & parts |
|
2.88 |
2.84 |
2.87 |
3.11 |
3.00 |
2.95 |
All other durable
goods |
|
1.49 |
1.49 |
1.50 |
1.49 |
1.49 |
1.48 |
Capital goods |
|
2.64 |
2.59 |
2.60 |
2.59 |
2.58 |
2.60 |
Nondefense capital goods |
|
2.78 |
2.73 |
2.74 |
2.73 |
2.71 |
2.73 |
Excluding aircraft |
|
2.21 |
2.20 |
2.19 |
2.19 |
2.18 |
2.19 |
Defense capital goods |
|
1.78 |
1.73 |
1.74 |
1.78 |
1.78 |
1.81 |
|