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Monday, October 26, 2020
HomeNewsEconomyDurable Goods Orders Advanced 1.2% in December, Beating the Forecast

Durable Goods Orders Advanced 1.2% in December, Beating the Forecast

A Boeing 737 MAX plane is seen during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington December 7, 2015. (Photo: Reuters)
A Boeing 737 MAX plane is seen during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington December 7, 2015. (Photo: Reuters)
A Boeing 737 MAX plane is seen during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington December 7, 2015. (Photo: Reuters)

Durable goods orders in the U.S. increased $3.0 billion or 1.2% to $254.4 billion in December, beating the consensus forecast.

Forecasts ranged from a low of 0.0% to a high of 3.5%, with a consensus 1.0%. Durables goods orders have been up for two consecutive months, and now followed a 1.0% gain in November.

Excluding transportation, new orders rose 0.1%. Excluding defense, new orders increased 1.8%. Transportation equipment, up 4 of the last 5 months, fueled the increase, $2.8 billion or 3.3% to $90.2 billion.

Shipments of manufactured durable goods, which have been up 4 of the last 5 months, rose $2.1 billion or 0.8% to $259.7 billion. That follows a 1.0% increase in November.

Transportation equipment, which is also up 4 of the last 5 months, led the increase, at $1.4 billion or 1.5% to $91.4 billion.

Unfilled orders for manufactured durable goods has been down for 3 consecutive months, and it fell $1.1 billion or 0.1% to $1,180.1 billion. This follows a 0.2% drop in November. Transportation equipment, which has also been down for three consecutive months, fueled the decline, $1.2 billion or 0.1% to $811.1 billion.

Inventories of manufactured durable goods have been up 23 of the last 24 months, and December increased $0.9 billion or 0.2% to $414.7 billion. That follows a 0.4% increase in November.

Primary metals, up 25 of the last 26 months, led the gain at $0.4 billion or 1.1% to $36.6 billion.

Non-defense new orders for capital goods in December rose $2.8 billion or 3.7% to $77.8 billion. Shipments gained $0.4 billion or 0.5% to $80.0 billion. Unfilled orders declined $2.2 billion or 0.3% to $708.1 billion. Inventories increased $0.5 billion or 0.3% to $181.5 billion.

Defense new orders for capital goods in December decreased $1.0 billion or 7.0% to $13.3 billion. Shipments increased $0.5 billion or 4.1% to $12.5 billion. Unfilled orders increased $0.8 billion or 0.5% to $157.1 billion. Inventories decreased $0.2 billion or 1.0% to $22.7 billion.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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