New Orders for Durable Goods Shows Pick Up in December

January 28, 2013 10:17 AM EST
The U.S. Census Bureau on Monday reported durable goods orders for December. Overall the data was positive, with larger than expected gains in new orders. The report also showed a decline in inventory, a pickup in unfilled orders, shipments, and nondefense goods.

The report showed new orders increased 4.6 percent in December, ahead of economist expectations that called for a gain of 2 percent. This followed a 0.7 percent November increase, and marks the seventh gain out of 8 months. Excluding transportation, new orders increased 1.3 percent. Excluding defense, new orders increased 1.2 percent.

Interestingly, December inventories declined following 14 consecutive monthly increases. The decrease was $0.1 billion to $374.5 billion. This decrease followed a 0.1 percent November increase

Unfilled orders for manufactured durable goods in December, up six of the last seven months, increased $8.2 billion or 0.8 percent to $992.0 billion. This increase followed a slight November increase.

Shipments of manufactured durable goods in December, up five of the last six months, increased $2.9 billion or 1.3 percent to $230.6 billion. This followed a 1.8 percent November increase.

Non-defense new orders for capital goods in December increased $2.7 billion or 3.8 percent to $73.8 billion.

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