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Montage_By_Michael_Schmahl_(Own_work)__[CC-BY-SA-3.0_(http_creativecommons.org_licenses_by-sa_3.0)]_via_Wikimedia_Commons Construction Spending

In September construction spending continued to grow

U.S. construction outlays continue to increase after recent decline, mainly because of higher nonresidential construction outlays.
Construction spending increased by 0.3 % in September to annual rate at $1219.5 billion on the seasonally adjusted basis, reported by the Commerce Department. Growth of nonresidential construction in the last month, shows pick up of investments in commercial and infrastructure projects.

Report indicates signs of growing optimism as investors open their wallets, construction spending is closely watched by investors and economists for signs of whether the economy is growing or shrinking. Outlays rose by 6 % in the past 12 months, as residential construction grew the most.

Public construction outlays grew by 2.6 % more then double the rate, of total construction growth on the seasonally adjusted basis, led by increases of nonresidential outlays at transportation projects, power projects. Public outlays for commercial buildings fell.
Spending on public construction projects represents 22.7 % of total construction outlays.
Outlays for public construction projects advanced by 2.4 % for the year.
The construction of private projects remained unchanged smaller than total construction outlays on the seasonally adjusted basis, nonresidential spending fell for offices and power projects. From the same month a year ago, private construction outlays jumped by 13.6 %.

August outlays for U.S. construction projects were revised to $1216 billion to show 0.4 % growth.
August outlays for U.S. construction projects were revised to $1216 billion to show 0.4 % growth.

Employment Report

Economy gains 261,000 jobs, unemployment rate 4.1 %

The nonfarm payrolls grew 261,000 in September, as faster hiring puts more money in the hands of consumers, what usually leads to an increase in spending, as the hiring in the private sector accelerates and the public sector creates new jobs.
In September the U.S. economy added 261,000 jobs on the seasonally adjusted basis and reported by the Labor Department.

Companies in the private service providing sector hired 219,000 workers and payrolls in goods-producing industries rose by 33,000, bringing overall job growth in the pivate sector to 252,000. Hiring was strong accross the board in the September report, improvement in the private sector, was followed by the job growth in public sector, as the government hired 9,000 people.

As the year goes on, companies have been hiring at a faster clip as Americans increase spending and consumer confidence rises, economists have seen a steady improvement in the jobs market and recruiting activity.
Current report confirms positive trends in the nonfarm payrolls. Total number of employed persons in the U.S. rose by 0.28 % to 153,86 millions, the biggest increases occurred in leisure and hospitality sectors up by 106,000 payrolls, the retail sector has lost -8,300 jobs.

The official unemployment rate does not tell the whole story since it does not count discouraged workers who recently stopped looking for a job. The number of unemployed people dropped to 6.52 million, a decrease by -612,000 from 7.13 million in August by -8.58 % on the seasonally adjusted basis.
More thorough examination of the data shows that, the drop in the unemployment rate in September stemmed also from a decline in the labor force as discouraged job seekers stopped looking for work, driving the employment participation rate down -0.20 % to 62.70 %.

In September Average hourly earnings jumped by 0.53 % to $26.53, an increase of $0.14 from $26.39 in August on the seasonally adjusted basis, the hourly wages in utilities grew at the highest pace to $39.53, the hourly wages in wholesale trade sector fell the most to $29.98, reported by the U.S. Labor Department.
On a year-over-year basis, earnings were up 2.75 %, This is above the % year-over-year increase in the consumer price index in September.

Average workweek remained unchanged in September on the seasonally adjusted basis, hours worked in the natural resources and mining posted the largest increase to 45.30 hours, the hours worked in durable goods manufacturers fell the most to 44.80 hours, reported by the U.S. Labor Department.
With jump in hourly earnings and unchanged in hours worked, average weekly earnings increased in the private sector to $912.63 from $907.82 in the previous month.

Industrial production

The output of the nation's factories, mines and utilities accelerated in September

Industrial production increased on the faster pace again, consumers turned on their air conditioners and elevated utilities output.
Industrial production grew in double digits in September by 28 % on the seasonally adjusted basis, elevating capacity utilization to 76.6 %, but utilization rate remains below the average. The Fed thinks that this space of excess capacity is going to keep inflation subdued. The government report has revealed some weakness as output increase was driven by higher elctricity consumption.

The expanding industrial output is one of the key drivers for economic growth, as boosting industrial production creates additional demand down the supply-chain and increases employement. From Sep. 2016, output jumped by 29.2 % led by expansion in production of cars by 42.9 %.
Manufacturing of durable goods grew in double digits by 30.9 %, led by production of nonmetallic mineral products with 51.8 %, on the seasonally adjusted basis.

Mining output has rebounded from the decline in previous period, output grew in double digits by 26.9 % on the seasonally adjusted basis. Compare to a year ago mining output soared by 35.7 %.

Housing Starts

Housing starts on the rise again

U.S. Housing starts on the rise again after dipping in the last month, as strength in the U.S. economy becomes more evident.
U.S. housing starts grew in double digits in October by 14.5 % on the seasonally adjusted basis to annual rate of 1,290,000 units, an increase of 163,000 units from 1,127,000 in September, reported by the U.S. Department of Housing and Urban Development. Construction of new homes in U.S. increased across many sectors including, multi-family housing units, northeast and midwest.

The government cautions that its monthly housing data are volatile and subject to large sampling and other statistical errors. In most months, the government can't be sure whether starts increased or decreased.

Home construction faded by -3.7 % for the year, where housing starts in the Northeast declined the most.

Building permits have rebounded from decline in previous period, permits soared by 6.7 % or 82,000 units to an annual rate of 1,290,000 units, from 1,127,000 in September on the seasonally adjusted basis Most of growth took place in the West and it was concentrated in multi-dwelling buildings such as apartments.

New permits went up 12.3 % to annual rate of 212,000 units in the West while permits for multi-family units grew 15.7 % accounting for 32.02 % of total permits issued.

Permits give an indication of whether demand for new homes is growing or slowing.Building permits jumped by 2.9 % for the year

New housing units authorized by region

New housing units started by region

mexicaninteriors_By_oswaldo_[CC-BY-SA-2.0_(http_creativecommons.org_licenses_by-sa_2.0)]_via_Wikimedia_Common Retail Sales

Retail advance less then forecast in October

The retail and food services sales continue to grow but on the slower pace, as the consumer cut spending on building materials by -1.2 %.
The Commerce Department announced U.S. retail sales increased a slim 0.2 % in October on the seasonally adjusted basis. October advance follows a gain of 1.9% in September.

Wall Street pays close attention to the retail and food services sales report, as retail sales account for about half of total consumer spending and about a third of final sales in the U.S. economy, so any pullback in spending has broad repercussions. Retail sales grew by 4.6 % over the past 12 months, meanwhile sales excluding volatile motor vehicle and parts sales, increased less than overall retail sales, over the last 12 months.
Retail and food services sales excluding motor vehicle and parts rose sequentially smaller than retail and food services sales by 0.1 % on the seasonally adjusted basis, sales increased above average in food, beverage, furniture, home furnishings, and clothing stores. Sales for gasoline stations deteriorated.

Core sales excludes the volatile car sales in order to provide better idea about longer-term sales trends.

The deceleration in spending is the latest in a series of indicators suggesting the U.S. economy has slowed, at least temporarily.
Excluding the volatile auto sector sales grew by 4.3 % over the past 12 months.



Sales of essentials have increased by smaller rate than a month ago, sales grew by 0.3 % on the seasonally adjusted basis, led by increases in food, beverage stores, food services and drinking places sales. Over the past 12 months, sales of essentials grew by 4.6 %.

In October, sales increased 0.8% at health and personal care stores, department stores up 0.2%.

Several other areas with sales growth were 0.7% at electronics and appliance stores, clothing and accessories stores went up by 0.8%.

Meanwhile, sales decreased -1.2% at building materials dealers, internet retailers -0.3%.

Bugatti_Veyron_By_Ritchyblack_Stefan_Krause_(Own_work)_[CC-BY-SA-3.0_(http_creativecommons.org_licenses_by-sa_3.0)]_via_Wikimedia_Common Auto Sales

Ford sales up in October, GM slips

No. 2 U.S. auto maker posted strong gains in October sales, as sales of General Motors slipped, the companie's results showed.
In October U.S. sales of new cars and trucks slipped by -1.4 % from the same month a year ago to 1,383,072 vehicles, or -18,996 autos.
Car makers are showing just how much all the uncertainty has affected their businesses. By most accounts, the numbers are showing an industry that is struggling to keep up with forecasts of a steady growth this year.

Sales dropped by -10.9 % from September level.
Ford Motor Co. sales of cars and trucks in the U.S. grew in October by 6.2 %, to 200,436 units. As customer demand for Ford's vehicle remain strong in October. Ford's U.S. marketshare was at 14.49 %.
Sales momentum built as October unfolded, with higher fuel prices driving consumer demand for more fuel-efficient vehicles in the second half of the month.


General Motors reported sales of 252813 vehicles in October in the U.S., down from 258626 a year ago and -10.9 % below September total of 1,402,068. down by -2.2 %


GM sold 1,408 of its Buick LaCrosse models, down -43.7 %, bringing down sales of Buick brand by -4.5 %. Enclave models enjoyed a good month, GM sold 5,243 units, thats 30.5 % from a year ago. Cadillac reported sales decline of -0.1 % to 13,931 vehicles and Chevrolet fell -3.8 % to 175,110 vehicles.

The hefty - and costly - incentives from GM in the previous two months of the year fell back to Earth in October, and that translated to lackluster retail sales. The industry will be carefully watching GM's performance this month to see if October was an aberration or the start of a downward trend.

Recently Repoted Results
Shipping_Containers_at_the_terminal_at_Port_Elizabeth,_New_Jersey2_pd International Trade

Trade gap widens again

The U.S. Trade deficit increased in September, after narrowing in August, but exports continued their upward trend, imports grew as well.
The nation's trade gap increased in September by 1.7 %, reported by the Commerce Department. The widening trade deficit will subtract from GDP growth, as imports out-grew exports, but the decrease in consumption of energy-related petroleum products, suggest that the economy could be slowing, economists said.

Economists said the data showed that higher gasoline prices are not just an inflation threat but can constrain economic growth.

The U.S. trade deficit with China narrowed to $-34.6 billion in September from the deficit of $-34.9 billion recorded in August, led by declining imports from China.

Growth in China and other developing nations have also downshifted, cutting into demand for U.S. goods.

Imports increased in September by 1.18 %, reported by the Commerce Department, demonstrating the trend of strong business investment imports of Capital goods, except automotive grew and Travel services, which accounted for 0.35 % of total imports. Imports of Weapons increased also, up 12.90 % to $0.07 billions. Although imports of Cars, parts, and engines fell, down -1.84 %. U.S. Imports of Advanced Materials also declined, by -19.09 % to $0.20 billions.

The combination of acceleration in stockpiling activity to meet stronger domestic demand and the price effect from higher commodity prices led to the stronger growth in imports.

The price of a barrel of oil rose to $45.2 a barrel in September. Imports of petroleum decreased by $-1.38 billion, to $13.4 billion, in September. The U.S. imported 7 million barrels a day in September, down from 8.1 million in the prior month. U.S. Imports of services grew by 0.98 %, whats more important purcheses of foreign made products, which accounted for 81.5 %, of total imports, rose by 1.22 %.

Imports from europe fell, where purchases of oil and other energy-related products from Norway fell the most, but trade with Netherlands grew by 32.95 %.
U.S. Demand for goods from Pacific Rim Countries fell, as imports from Other Pacific Rim declined the most, but imports of goods from Hong Kong grew.
Imports from Mexico and Canada where lower in September.
Declining petroleum consumption in the U.S., has resulted in lower imports from OPEC (Organization of the Petroleum Exporting Countries), such as Saudi Arabia and Venezuela.

August trade deficit was revised to $-42.8 billion to show -2.1 % decline, which could lead to revision of the government's GDP estimate.
Over the last 12 months, U.S. trade gap soared by 7.5 %, , due to 5.11 % increase in imports.

Exports increased in September by 1.06 %, reported by the Commerce Department, led by 15.58 % growth in miscellaneous other goods and Passenger Fares. Exports of Weapons increased also, up 147.32 % to $0.55 billions. Although exports of Cars, parts, and engines fell, down -1.40 % and Travel services fell also -1.40 %. U.S. Exports of Biotechnology also declined, by -32.35 % to $1.22 billions.
U.S. exports are rising because of faster growth in emerging markets and the favorable foreign-exchange markets, economists add. U.S. Exports of services increased by 0.42 %, services accounted for 0.42 % of total exports, sales of U.S. made products, grew by 1.39 %.

Exports to europe improved, where exports to Hong Kong grew the most, but exports to Norway fell.

Products made in U.S. have seen declining demand form Pacific Rim Countries, as exports to Other Pacific Rim declined the most, but exports of goods to Hong Kong grew.

Exports of Goods by Selected Countries & Areas

Imports of crude oil and petroleum products

Productivity

Productivity accelerates

Productivity increased on the faster pace again, manily due to decrease in labor costs.
In the third-quarter U.S. productivity grew by 3.6 % on the seasonally adjusted basis. Labor productivity increases offset compensation increases and lower unit labor costs.

U.S. labor costs have increased by smaller rate than a quarter ago, the business labor costs surged by 0.4 % on the seasonally adjusted basis, led by increases in nonfarm business, durable goods manufacturing and in total manufacturing.

The measures of unit labor costs describe the relationship between compensation per hour and productivity U.S. labor costs remained unchanged for the year.

U.S. real hourly compensation has increased by smaller rate than a quarter ago, the business real hourly compensation rose by 2 % on the seasonally adjusted basis.
The measure includes accrued inflation-adjusted wages and salaries, supplements, employer contributions to employee benefit plans, and taxes. Over the past 12 months, real hourly compensation have climbed by 2 %.

Output continues to grow by higher rate, production jumped by 3.8 % on the seasonally adjusted basis.


U.S. productivity advanced by 1.5 % for the year, driven by the increase in output. U.S. business production jumped by 2.8 % for the year.

Output, labor costs by category

Real hourly compensation by category

Retail Inventories

The restocking of retailers, accelerated in September

Retail inventories increased on the faster pace again, as the retailers stock up their shelves.
The Commerce Department announced U.S. retail inventories surged , to $625 billions from $621 billions, lifting inventory to sales ratio to 1.49 from 1.48 in previous month, above recent average, indicating slowing demand and possible decline in industrial production by 0.7 % in September to , to $625 billions from $621 billions, lifting inventory to sales ratio to 1.49 from 1.48 in previous month, above recent average, indicating slowing demand and possible decline in industrial production on the seasonally adjusted basis. The build up in inventories was led by building materials, food and apparel retailers.

The build up in inventories can be reslut of slowing demand or, anticipation of increasing future demand. Retail inventories have climbed by 3.2 % for the year, led by inventory build up of 5.9 %, at the car dealars.
Inventories excluding motor vehicle and parts jumped, led by food and beverage stores, by 0.9 %, by 0.41 % on the seasonally adjusted basis, to $399.7 billions, from $398.1 billion in August.

The retailers have refilled their shalves at the same pace, as the consumer have emptied them, leaving inventory to sales ratio, excluding motor vehicles inventories, unchanged at 1.24.

Retail inventories by category

Inventory to sales ratio

Economy
Loxley_Farm_Market_Produce_By_Infrogmation_of_New_Orleans_[CC-BY-SA-3.0_(http_creativecommons.org_licensesby-sa3.0)]_via_Wikimedia_Commons Consumer Price Index

Inflation accelerates

Prices increased on the faster pace again, adding to inflationary worries.
The Consumer price Indexes grew in September by 0.5 % on the seasonally adjusted basis, reported by the Labor Department. Overall CPI grew by 2.2 % over the past 12 months, as the core rate increased on the slower rate than total consumer price index.

High energy prices have raised the cost of raw materials and contributed to price increases in a range of goods.

Stripping out the volatile food and energy categories, the core rate of consumer price inflation rose less than a half of total cpi, by 0.1 % on the seasonally adjusted basis.
The core index is usually viewed by investors and the Federal Reserve as a better gauge of inflationary pressure because it excludes the volatile food and energy categories.
Consumer price index excluding food and energy advanced by 1.7 % for the year.

Energy and commoditie prices grew by higher rate than in previous month, commodities by 1.1% and energy soared by 6.1 % on the seasonally adjusted basis, compare to a year ago energy prices jumped by 10.1 %.

Food & beverages prices have increased on the same pace like in previous month, food advanced by 0.1 % on the seasonally adjusted basis, as prices for alcoholic beverages increased the most. Food prices increased by 1.2 % from Sep. 2016.

Prices for housing have increased by smaller rate than a month ago, housing prices increased by 0.2 % on the seasonally adjusted basis, cost for shelter grew the most. Prices for housing jumped by 2.8 % for the year.

Apparel prices have increased by smaller rate than a month ago, housing prices declined by -0.1 % on the seasonally adjusted basis, womens, girls, infants and toddlers apparel prices fell below averge, although prices for mens and boys apparel grew. Over the past 12 months, prices for apparel decreased by -0.2 %.

Inflation rate, consumer prices by category

Consumer prices by category monthly change

Economy

Producer Price Index

Inflation higher in September

Prices increased on the faster pace again, sparking fears of inflation.
The Wholesale price Index increased by 0.4 % in September on the seasonally adjusted basis, reported by the U.S. Labor Department. Even when wholesale prices rise, however, costs are not always passed onto consumers. Businesses sometimes absorb the extra expense to make sure customers continue to buy their products. Wholesale prices rose by 2.6 % in the past 12 months, as the core rate increased on the slower rate than total ppi.

Prices for finished consumer goods continue to grow by higher rate, finished consumer goods prices increased by 0.7 % on the seasonally adjusted basis. Over the last 12 months, prices for finished goods soared by 3.3 %.

Yet using a different measure of inflation that strips out food and energy, the core rate grew and accelerated by 0.3 % on the seasonally adjusted basis, led by price increases in materials for manufacturing and durable goods. Prices for organic chemicals fell.
Core PPI, which is believed to be closely watched by the Federal Reserve, because it usually gives a better idea of longer-term inflationary trends.
Over the past 12 months, stripping out the volatile food and energy categories, the core rate of producer price inflation has climbed by 2 %.

Crude materials prices continue to grow by higher rate, finished consumer goods prices fell by -0.4 % on the seasonally adjusted basis, foodstuffs, feedstuffs and crude fuel prices fell below averge, although prices for manufacturing materials grew. Core rate rose by 2 % on the seasonally adjusted basis. The core component is one of key leading indicators of inflation. Over the past 12 months, crude materials prices grew by 7 %.

Prices for intermediate goods continue to grow by higher rate, intermediate prices jumped by 0.5 % on the seasonally adjusted basis, as prices for processed fuels increased the most. Backing out volatile food and energy, core intermediate rate increased by 0.2 % on the seasonally adjusted basis. The core component of intermediate price index is viewed as a key leading indicator of inflation. Over the past 12 months, intermediate prices grew by 4.3 %.

Intermediate products are items such as steel, processed from iron ore, before it is made into cars.

Investors are monitoring how corporations are passing along rising commodity prices onto consumers, which may signal the rise of inflation.

Price changes on the whole-sale level

Price changes by category

Economy
White_House_South_Lawn_1-18-09_20090117_p011809cg-0034-515h Gross Domestic Product

U.S. GDP revised to 3.0 % in the third-quarter

The third and final government estimate of third-quarter GDP, shows that the nations output has accelerated in the third-quarter, as buildup in inventories fuel private domestic investments.
In the third-quarter U.S. economy grew by 3.0 % to $19,496 billions, an increase from $19,250 billions in the second-quarter on the seasonally adjusted basis. Investments grew above averge but the increase stemmed from a buildup in inventories. Businesses may have accumulated excess stock on hand and didn’t sell as many products as expected in the third-quarter, economists say.
Constantly improving pace of economic growth is expected to be matched by improving labor market.
The newly revised growth numbers reinforce the view that the economy remains in a very strong state. Salaries and Worker wages grew by 0.99 % quarterly.
Over the past 12 months, led by growth in consumer spending and investments, U.S. output have climbed by 2.3 %.

This is the third and final revision in the government's estimate of third-quarter growth in goods and services. The government provides three estimates of economic growth each reflecting more complete information than the previous one.

Investments soared by 6.00 % to $3,020 billions and accelerated on the seasonally adjusted basis, reported by the Commerce Department.
Stronger inventory buildup from July-through-September, added 38.40 percentage point to growth.
Economists expect companies to cut back on inventories in the October-through-December quarter. As a result, GDP growth is expected to slow.

Government consumption expenditure and gross investments fell by -0.10 %, a 1.10 % increase in federal outlays was offset by a -0.90 % decline in local and state spending. Many states have slashed spending to close multi-billion-dollar budget gaps. Government consumption of $3,284 billions at annual rate, accounts for 17.61 % of total U.S. Economy.

In the third-quarter real consumer spending was estimated to have increased at a 2.4 % annualized clip, reported by the Commerce Department.
With estimated annual rate of $12,806 billions, seasonally adjusted in the second-quarter, consumer spending accounts for 69.41 % of economic activity.
Spending on U.S. made Goods increased by 2.1 %, where consumption of Durable Goods grew by 8.3 %, led by growing demand for new cars.
Growth in nondurable goods of 1.5 %, as other nondurable goods grew the most, up 0.12 %.
Sevice sector grew more than in previous quarter and faster than gross national product, spending on service increased by 4.2 %, led by growing demand for electricity and gas. Consumer spending for services accounts for 68.6% of total speding and 47.19% of total GDP.

Final sales rose at a 2.3 % rate in the third-quarter after rising 2.3 % in the second-quarter.

Exports increased 2.30 % in the third-quarter, although this marked a slowing after 3.30 % growth in the second-quarter. Imports fell -0.80 % after a gain 4.10 % in the second-quarter. Net exports contributed -531.70 of a percentage point to growth in the third-quarter

Detailed Gross Domestic Product and related measures

Real Gross Domestic Product in numbers

Stocks
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Shopping_in_By_Ramunasjurevicius_(Own_work)_[CC-BY-SA-3.0_(http_creativecommons.org_licenses_by-sa_3.0)]_via_Wikimedia_Common Personal Income and Spending

Wages up 0.4 % in September spending ebbs

Americans cut back on spending in September and used a hefty increase in wages to pad their savings accounts, government data showed.
Personal income inched up 0.4 % in September at the annualized rate of $16.53 trillion on the seasonally adjusted basis, reported by the Commerce Department.
The renewed caution by consumers is a double-edged sword. While Americans need to put more money aside to boost a low savings rate, lackluster spending also contributes to slower growth. (Consumer spending accounts for as much as 70% of U.S. economic activity.).

Disposable personal income has climbed by 0.4 %, as well, lifting average American income to $44,357 at the annualized rate.
The growth in Wages has accelerated, led by highest increase in Goods-producing industries increase of 0.53 %, salaries in Government Sector grew as well, the supplements to wages and salaries grew less than total wages, as employer boost contributions for government social insurance.


Americans had higher proceeds from dividends and real-estate in September, rental income increased 0.6 %, helping to boost overall income.
Personal consumption expenditures remained unchanged. The combination of higher income and lower spending allowed consumers to boost their savings rate to 3.1 % from 3.6 % in August, but interest income rose, in contrast to the declining savings rate.
A slower pace of consumer spending is one reason that economists are cutting estimates for gross domestic product growth.


Factory Orders (Picture Autor: Wolfgang Meinhart) licence GNU Factory Orders

New Bookings on the rise again

U.S. Factory orders continued to rise after recent weakness, as bookings outgrow production.
Orders for U.S.-made products increased in September on the seasonally adjusted basis by 1.38 % to $478 billions, an increase of $6.5 billions from $472 in August, reported by the Commerce Department.

The rise in demand last month was lead by transportation and defense, but almost every sector tracked by the Commerce Department reported an increase.
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. From Sep. 2016, bookings jumped by 34,305,649.48 % and shipments by 3.75 %.

In August factory orders were revised to 1.20 % growth to $472 billions and manufacturing shipments to $476 billions an increase by 0.45 %.

Inventories remained unchanged in September on the seasonally adjusted basis, reported by the U.S. Commerce Department. Inventory to shipments ratio fell to 1.34 from 1.36 in the previous month.

Another category of orders closely watched by economists, known as excluding defense and transportation, orders have climbed less than total orders by 1.33 % on the seasonally adjusted basis and inventories by 1.33 % %.
Core PPI, which is believed to be closely watched by the Federal Reserve, because it usually gives a better idea of longer-term inflationary trends.
From Sep. 2016, Excluding defense and transportation jumped by 35,175,184.72 % and inventories by 6.26 %.

In September Shipments jumped by 0.83 % to $480 billions, an increase of $4 billions from $476 in August on the seasonally adjusted basis, led by 17.00 % growth in mining and oil field machinery shipments, representing 0.25 % of total shipments, reported by the U.S. Commerce Department. Shipments excluding transportation grew by 0.78 %.

Unfilled orders continue to grow by higher rate, unfilled orders grew by 0.24 % on the seasonally adjusted basis, led by 4.33 % growth in ships and boats, representing 0.52 % of total unfilled bookings. total factory inventories advanced by 1.45 % for the year.

Kitchen_stuff_By_Smoth_007_from_Christchurch_New_Zealand__[CC-BY-SA-2.0_(http_creativecommons.org_licenses_by-sa_2.0)]_via_Wikimedia_Commons Durable Goods Orders

Durable Goods orders rebounded in August

U.S. Durable Goods orders grew again after dipping in the last month, but Shipments of durable goods fell by -0.08 % to $237 billions.
Orders for U.S.-made products designed to last three years or more, such as autos or appliances increased in August on the seasonally adjusted basis by 1.59 % to $233 billions, an increase of $4 billions from $229 in July, reported by the Commerce Department.

The rise in demand last month was lead by transportation and defense, but almost every sector tracked by the Commerce Department reported an increase.
The rebound in durable goods orders is an encouraging sign, particularly in light of the loss of momentum in the manufacturing sector evident in recent survey reports.

From Aug. 2016, bookings jumped by 23,785,486.82 % and shipments by 2.02 %.

The normal wild swings in big-ticket purchases continue but the trend is still up and that is all that matters, some Wallstreet economists added.

Durable goods are typically bulky or heavy products designed to last at three years, such as trains, computers or furniture. The government’s durables report, however, is particularly volatile and subject to large swings month to month.

Inventories grew in August by 0.43 % to $401 billions, an increase of $2 billions from $399 in July on the seasonally adjusted basis, as inventories of defense aircraft and parts grew 2.16 % to $13 billions, accounting for 3.35 % of total durable goods inventories. Government purchases of defense products are uneven and can sometimes distort the data, reported by the Commerce Department. Inventory to shipments ratio grew to 1.69 from 1.68 in the previous month.

Another category of orders closely watched by economists, known as core capital goods, orders have climbed less than total orders by 1.52 % on the seasonally adjusted basis and inventories by 1.52 % %.
Core PPI, which is believed to be closely watched by the Federal Reserve, because it usually gives a better idea of longer-term inflationary trends.
From Aug. 2016, Core capital goods orders jumped by 6,327,032.67 % and inventories by 4.47 %.

In August total durable goods shipments declined by -0.08 % to $237 billions, a decrease by $0 billions from $237 in July on the seasonally adjusted basis, led by -11.42 % decrease in defense aircraft and parts shipments, representing 4.85 % of total durable goods shipments. Government purchases of defense products are uneven and can sometimes distort the data.. Shipments excluding the volatile transportation sector, grew by 0.41 %.

Unfilled orders have increased by smaller rate than a month ago, unfilled booking advanced by 0.05 % on the seasonally adjusted basis, as unfilled orders for computers and related products grew the most, up 3.91 % to $2 billions. total durable goods inventories dropped by -4.24 % from Aug. 2016.

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