US Durable Goods Orders Unexpectedly Increase

New orders for US manufactured durable goods unexpectedly rose 0.8 percent month-over-month in September of 2018, following an upwardly revised 4.6 percent rise in August and beating market expectations of a 1 percent drop. Transportation equipment drove the increase as orders for motor vehicles and parts went up 1.3 percent and orders for defense capital jumped 119.1 percent. Orders for non-defense capital goods excluding aircraft, seen as a proxy for business spending plans, edged down 0.1 percent after a 0.2 percent drop in August.
US Census Bureau | Joana Taborda | joana.taborda@tradingeconomics.com 10/25/2018 12:44:09 PM
Excluding transportation, new orders increased 0.1 percent. Excluding defense, new orders decreased 0.6 percent. Transportation equipment, also up three of the last four months, led the increase, $1.8 billion or 1.9 percent to $97.4 billion.

Shipments of manufactured durable goods in September, up four of the last five months, increased $3.3 billion or 1.3 percent to $256.8 billion. This followed a 0.9 percent August increase. Transportation equipment, up three of the last four months, led the increase, $2.9 billion or 3.3 percent to $89.4 billion.

Unfilled orders for manufactured durable goods in September, up ten of the last eleven months, increased $9.4 billion or 0.8 percent to $1,186.1 billion.  This followed a 0.9 percent August increase. Transportation equipment, up seven of the last eight months, led the increase, $7.9 billion or 1.0 percent to $818.7 billion.

Inventories of manufactured durable goods in September, up twenty of the last twenty-one months, increased $2.8 billion or 0.7 percent to $410.7 billion.  This followed a 0.2 percent August decrease. Transportation equipment, up two of the last three months, led the increase, $1.2 billion or 0.9 percent to $130.5 billion. 

Nondefense new orders for capital goods in September decreased $1.9 billion or 2.4 percent to $79.1 billion. Shipments increased $2.1 billion or 2.7 percent to $79.5 billion.  Unfilled orders decreased $0.4 billion or 0.1 percent to $717.9 billion.  Inventories increased $1.7 billion or 0.9 percent to $179.5 billion. Defense new orders for capital goods in September decreased $2.4 billion or 14.3 percent to $14.2 billion. Shipments increased $0.1 billion or 0.7 percent to $11.7 billion.  Unfilled orders increased $2.4 billion or 1.6 percent to $154.4 billion.  Inventories increased $0.2 billion or 0.8 percent to $22.8 billion.

US Durable Goods Orders Unexpectedly Increase