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ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS'
SHIPMENTS AND ORDERS
October 1997 (All figures in text below
are in seasonally adjusted current dollars)
New Orders
New orders for manufactured durable goods in October decreased $0.5 billion or 0.3 percent to $185.9 billion, the Department of Commerce, Bureau of the Census reported today. This follows a 0.1 percent September increase and is the first decline since May. Excluding transportation, new orders decreased 2.1 percent, also the first decline since May. Year to date, new orders are 6.5 percent above the same period a year ago.
Primary metals had the largest decrease, $1.1 billion or 6.7 percent to $15.6 billion, following a 4.9 percent September increase. This is the second decrease in the last three months and the third this year. Electronic and other electrical equipment, down four of the last five months, decreased $1.0 billion or 3.3 percent to $30.4 billion, led by a decrease in communication equipment. This follows a 7.8 percent September decrease. Industrial machinery and equipment, down two of the last three months, decreased $0.7 billion or 1.9 percent to $34.7 billion. This follows a 1.8 percent September increase. Transportation equipment, up two of the last three months, increased $2.5 billion or 5.9 percent to $45.0 billion, due to aircraft and parts and motor vehicles and parts. This follows a 1.3 percent September decrease. Instruments and related products, up four of the last five months, also increased.
Shipments
Shipments of durable goods in October, down two of the last three months, decreased $1.3 billion or 0.7 percent to $184.2 billion. This follows a 2.4 percent September increase and is the third decline this year. Year to date, shipments are 7.7 percent above the same period a year ago.
Electronic and other electrical equipment, down for the first month since July, had the largest decrease, $0.7 billion or 2.2 percent to $30.3 billion. This follows a 2.6 percent September increase. Industrial machinery and equipment, down two of the last three months, decreased $0.1 billion or 0.4 percent to $35.0 billion. This follows a 3.2 percent September increase. Primary metals, down two of the last three months, decreased slightly to $15.5 billion, following a 1.1 percent September increase. Transportation equipment decreased slightly to $43.3 billion, as decreases in aircraft and parts and railroad equipment more than offset an increase in motor vehicles and parts. This follows a 1.2 percent September increase and is the second decrease in the last three months.
Unfilled Orders
Unfilled orders for durable goods in October increased $1.7 billion or 0.3 percent to $503.6 billion. This follows a 0.2 percent September increase and is the fifth increase in the last six months.
Transportation equipment had the largest increase, $1.7 billion or 0.7 percent to $250.9 billion, with all industries increasing except shipbuilding and tanks. This follows a 0.3 percent September decrease and is the second increase in the last three months. Electronic and other electrical equipment, up five of the last six months, increased $0.1 billion or 0.1 percent to $55.9 billion. This follows a 0.8 percent September increase. Primary metals, up for the tenth consecutive month, increased 0.1 percent to $33.5 billion, following a 3.5 percent September increase. Industrial machinery and equipment, down for the first month since June, decreased $0.3 billion or 0.5 percent to $73.5 billion, following a 0.3 percent September increase.
Capital Goods Industries
Defense–New orders in October, down three of the last four months, decreased $0.5 billion or 9.3 percent to $4.9 billion, following a 2.7 percent September increase. Shipments, up for the second consecutive month, increased $0.2 billion or 3.5 percent to $6.4 billion, following a 0.8 percent September increase. Unfilled orders, down for the tenth consecutive month, decreased $1.4 billion or 1.4 percent to $104.7 billion, following a 0.7 percent September decrease.
Nondefense–New orders in October, up for the sixth consecutive month, increased $0.4 billion or 0.9 percent to $49.2 billion, following a 1.6 percent September increase. Shipments, down two of the last three months, decreased $1.3 billion or 2.6 percent to $47.2 billion. This follows a 3.4 percent September increase. Unfilled orders, up four of the last five months, increased $2.0 billion or 0.8 percent to $254.8 billion, following a 0.1 percent September increase. Excluding aircraft and parts, new orders decreased $1.8 billion or 4.2 percent to $40.7 billion, the second decrease in the last three months; shipments decreased $0.5 billion or 1.2 percent to $40.7 billion, the second decrease in the last three months; and unfilled orders decreased slightly to $100.5 billion, the first decrease since June.
Revised September Data
Revised seasonally adjusted September figures for all manufacturing industries are: shipments, $335.1 billion (revised from $335.3 billion); new orders, $336.1 billion (revised from $336.5 billion); unfilled orders, $528.0 billion (revised from $528.2 billion); and total inventories, $448.6 billion (revised from $449.2 billion).
Seasonally Adjusted
Oct-X Sep-R Aug Shipments, total 184,232 185,536 181,131 ex. defense 177,854 179,373 175,015 New Orders, total 185,920 186,428 186,195 ex. defense 180,975 180,976 180,888 Unfilled Orders, total 503,607 501,919 501,027 ex. defense 398,903 395,782 394,179 Capital Goods, new orders 54,128 54,197 53,294 nondefense 49,183 48,745 47,987 excl. aircraft & parts 40,716 42,495 40,110 defense 4,945 5,452 5,307 (millions of dollars)
Sep- Aug- Jul- Oct-X Sep-R Aug Shipments, total —0.7% +2.4% —1.5% ex. defense —0.8% +2.5% —1.4% New Orders, total —0.3% +0.1% +2.5% ex. defense 0.0% 0.0% +3.0% Unfilled Orders, total +0.3% +0.2% +1.0% ex. defense +0.8% +0.4% +1.5% Capital Goods, new orders —0.1% +1.7% —0.2% nondefense +0.9% +1.6% +1.2% excl. aircraft & parts —4.2% +5.9% —4.8% defense —9.3% +2.7% —11.2% Seasonally Adjusted Percent Change
X–Based on advance sales.
R–Revised.
November 26, 1997 U.S. Department of Commerce
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