New orders for manufactured goods in December, up eight of the last nine months, increased $3.7 billion, or 1.0 percent, to $370.4 billion, the U.S. Census Bureau reported on February 4. This followed a 1.0 percent November increase. Excluding transportation, new orders increased 1.2 percent.
Shipments, up six of the last seven months, increased $7.0 billion (1.9 percent) to $383.1 billion. This followed a 1.6 percent November increase. Unfilled orders, down 15 consecutive months, decreased $7.4 billion (1.0 percent) to $716.7 billion. This was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992. This followed a 0.7 percent November decrease. The unfilled orders-to-shipments ratio was 5.46, down from 5.65 in November. Inventories, down following two consecutive monthly increases, decreased $300 million (0.1 percent) to $495.0 billion. This followed a 0.2 percent November increase. The inventories-to-shipments ratio was 1.29, down from 1.32 in November.
New Orders
New orders for manufactured durable goods in December, up following two consecutive monthly decreases, increased $1.6 billion (1.0 percent) to $169.0 billion, revised from the previously published 0.3 percent increase. This followed a 0.4 percent November decrease.
Machinery, up three of the last four months, had the largest increase, $1.5 billion (6.6 percent) to $24.3 billion.
New orders for manufactured non-durable goods increased $2.1 billion (1.0 percent) to $201.4 billion.
Shipments
Shipments of manufactured durable goods in December, up four consecutive months, increased $5.0 billion (2.8 percent) to $181.7 billion, revised from the previously published 2.9 percent increase. This followed a 0.8 percent November increase.
Transportation equipment, up three of the last four months, had the largest increase, $1.8 billion (4.2 percent) to $45.8 billion.
Shipments of manufactured non-durable goods, up eight of the last nine months, increased $2.1 billion (1.0 percent) to $201.4 billion. This followed a 2.2 percent November increase. This increase was led by petroleum and coal products, which increased $1.2 billion (2.8 percent) to $44.7 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in December, down 15 consecutive months, decreased $7.4 billion (1.0 percent) to $716.7 billion, revised from the previously published 1.2 percent decrease. This was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992 and followed a 0.7 percent November decrease. Transportation equipment, down 14 of the last 15 months, had the largest decrease, $7.8 billion (1.9 percent) to $409.7 billion.
Inventories
Inventories of manufactured durable goods in December, down 12 consecutive months, decreased $500 million (0.2 percent) to $302.8 billion, unchanged from the previously published decrease. This followed a 0.2 percent November decrease.
Fabricated metal products, down 14 of the last 15 months, had the largest decrease, $300 million (0.8 percent) to $36.7 billion.
Inventories of manufactured non-durable goods, up three consecutive months, increased $200 million (0.1 percent) to $192.2 billion. This followed a 0.8 percent November increase. Petroleum and coal products drove the increase, up $1.2 billion (4.0 percent) to $31.2 billion.
By stage of fabrication, December materials and supplies decreased 0.1 percent in durable goods and increased 1.8 percent in non-durable goods. Work in process increased 0.1 percent in durable goods and 0.8 percent in non-durable goods. Finished goods decreased 0.5 percent in durable goods and 1.4 percent in non-durable goods.