–October Durables Goods New Orders Revised Down To -3.4%
By Kevin Kastner
WASHINGTON (MNI) – The value of new factory orders fell 0.9% in
October on an already-announced drop in transportation orders, offset by
a another solid gain in nondurables goods orders, data released by the
Commerce Department Friday morning showed.
Analysts in a Market News International survey had expected factory
new orders to fall 1.0% in October.
Durable goods orders were revised down slightly to a 3.4% decline
for the month from the original 3.3% decline reported earlier, while
nondurable goods orders rose 1.5%.
Petroleum and coal products shipments, which are equivalent to new
orders in this data, rose 7.5% in October.
Transportation orders were unrevised with a 5.2% drop, the same as
the advance reading. The transportation sector was still led by the huge
drop in aircraft order, as well as a 2.2% decline in orders for ships
and boats. These were partially offset by a 0.6% increase in motor
vehicles and parts orders.
Total factory orders excluding transportation still fell 0.2%, with
weakness in other durables components.
Overall factory shipments rose 0.3% in October, though nondefense
capital goods shipments fell 0.4%, and were down 1.3% when aircraft
shipments were excluded.
Factory inventories rose 0.9% in October, while unfilled orders
rose 0.6%.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]