–October Durables Goods New Orders Revised Down To -0.5%
–October Total Factory Orders Ex. Transportation Up 0.2%
By Kevin Kastner
WASHINGTON (MNI) – The value of new factory orders fell 0.4% in
October, as nondurable goods orders were down 0.3%, but the previously
reported 0.7% decline in durable goods orders was revised up slightly to
a 0.5% decline, data released by the Commerce Department Monday morning
showed.
Total factory orders excluding transportation rose 0.2% in
October, reflecting strong gains in orders for primary metals,
machinery, and computers. These were offset by declines in orders for
fabricated metals and for electrical equipment.
Analysts in a Market News International survey had expected overall
factory new orders to fall 0.2% in October, but the it appears that
nondurables fell more than expected.
The decline in nondurables orders was led by a 0.8% decrease in
petroleum and coal products following a 3.3% jump in the previous month.
Nondurables shipments are equivalent to orders in this report.
Transportation orders are now reported down 5.1% in the month,
compared with the previously reported 4.8% decline. A Market News
International calculation shows durable goods orders excluding
transportation now stands up 1.1%, better than the 0.7% rise in the
advance estimate.
Overall factory shipments rose 0.6% in the month, with nondefense
capital goods shipments up 1.1%. However, nondefense capital goods
shipments were down 0.1% excluding the aircraft component.
Factory inventories rose 0.9% in October, keeping the inventory to
shipments ratio at 1.33, unchanged for the last five months. Unfilled
orders rose 0.2%.
** Market News International Washington Bureau: 202-371-2121 **
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