US Durable Goods Orders Rebound Weaker than Expected


New orders for US manufactured durable goods surged 0.8 percent from a month earlier in November 2018, following a downwardly revised 4.3 percent plunge in October and missing market expectations of a 1.6 percent advance. Transportation equipment drove the increase.

Demand for transport equipment jumped 2.9 percent in November (vs -12.3 percent in October), led by defense aircraft and parts (31.5 percent vs -55.3 percent) and civilian aircraft (6.7 percent vs -28.7 percent), while orders for motor vehicles and parts fell slightly (-0.2 percent vs 0.5 percent). Demand also rose for both primary metals (1 percent vs -2.7 percent) and fabricated metal products (0.5 percent vs 1.6 percent). Meanwhile, orders for computers and electronic products were unchanged (vs 2.9 percent in October) while decreases were recorded in demand for machinery (-1.7 percent vs 0.2 percent) and electrical equipment, appliances, and components (-0.7 percent vs 1.1 percent).

Excluding transportation, new orders fell 0.3 percent (vs 0.4 percent in October). Excluding defense, new orders decreased 0.1 percent (vs -1.4 percent in October).

Shipments of manufactured durable goods in November, up three of the last four months, increased $1.8 billion or 0.7 percent to $256.7 billion. This followed a 0.4 percent October decrease. Transportation equipment, also up three of the last four months, led the increase, $1.8 billion or 2.0 percent to $89.5 billion.

Unfilled orders for manufactured durable goods in November, down two consecutive months, decreased $1.7 billion or 0.1 percent to $1,181.7 billion. This followed a 0.2 percent October decrease. Transportation equipment, also down two consecutive months, drove the decrease, $2.5 billion or 0.3 percent to $812.4 billion.

Inventories of manufactured durable goods in November, up twenty-two of the last twenty-three months, increased $1.1 billion or 0.3 percent to $412.8 billion. This followed a 0.2 percent October increase. Primary metals, up twenty-four of the last twenty-five months, led the increase, $0.3 billion or 0.9 percent to $36.1 billion.  

Nondefense new orders for capital goods in November increased $0.5 billion or 0.7 percent to $75.4 billion. Shipments increased $1.9 billion or 2.4 percent to $79.6 billion.  Unfilled orders decreased $4.2 billion or 0.6 percent to $710.6 billion. Inventories increased $0.1 billion or virtually unchanged to $180.5 billion. Defense new orders for capital goods in November increased $1.8 billion or 15.4 percent to $13.9 billion. Shipments decreased $0.2 billion or 1.7 percent to $11.9 billion. Unfilled orders increased $2.0 billion or 1.3 percent to $156.0 billion. Inventories decreased less than $0.1 billion or virtually unchanged to $22.8 billio

US Durable Goods Orders Rebound Weaker than Expected


US Census Bureau | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/21/2018 1:45:38 PM