Durable Goods Orders Increase in October for Fourth Straight Month

New orders for manufactured durable goods in October increased $11.0 billion or 4.8% to $239.4 billion, the U.S. Census Bureau reported. New orders have been up for four consecutive months, with the most recent reading following a 0.4% September increase. Excluding transportation, new orders increased 1.0%. Excluding defense, new orders increased 5.2%.

Transportation equipment, also up four consecutive months, led the increase, $9.5 billion, or 12.0%, to $88.2 billion.

Shipments of manufactured durable goods in October, up four of the last five months, increased $0.2 billion, or 0.1%, to $234.6 billion. This followed a 0.8% September increase.

Fabricated metal products, up three of the last four months, drove the increase, $0.3 billion, or 1.1%, to $30.5 billion.

Unfilled orders for manufactured durable goods also rose in October. Following four consecutive monthly decreases, there was an increase of $8.2 billion, or 0.7%, to $1,128.6 billion. This came after a 0.2% September decrease.

Transportation equipment, also up following four consecutive monthly decreases, led the increase, $7.5 billion, or 1.0%, to $773.1 billion.

Inventories of manufactured durable goods in October, up four consecutive months, increased $0.1 billion or virtually unchanged to $383.7 billion. This followed relatively minimal September increase.

Nondefense new orders for capital goods in October increased $10.2 billion, or 14.5%, to $80.1 billion. Shipments decreased $0.4 billion, or 0.6%, to $71.5 billion. Unfilled orders increased $8.7 billion, or 1.3%, to $703.1 billion. Inventories decreased $0.6 billion, or 0.4%, to $169.6 billion.

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