Report: U.S. Manufacturing Climbs Again in December
Dept. of Commerce report shows more manufacturing gains in December.
Summary:
- New orders for manufactured goods in December, up eight of the last nine months, increased $3.7 billion or 1.0 percent to $370.4 billion, the U.S. Census Bureau reported today. This followed a 1.0 percent November increase. Excluding transportation, new orders increased 1.2 percent. Shipments, up six of the last seven months, increased $7.0 billion or 1.9 percent to $383.1 billion. This followed a 1.6 percent November increase.
- Unfilled orders, down fifteen consecutive months, decreased $7.4 billion or 1.0 percent to $716.7 billion. This was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992. This followed a 0.7 percent November decrease. The unfilled orders-to-shipments ratio was 5.46, down from 5.65 in November.
- Inventories, down following two consecutive monthly increases, decreased $0.3 billion or 0.1 percent to $495.0 billion. This followed a 0.2 percent November increase. The inventories-to-shipments ratio was 1.29, down from 1.32 in November.
New Orders. New orders for manufactured durable goods in December, up following two consecutive monthly decreases, increased $1.6 billion or 1.0 percent to $169.0 billion, revised from the previously published 0.3 percent increase. This followed a 0.4 percent November decrease.
Machinery, up three of the last four months, had the largest increase, $1.5 billion or 6.6 percent to $24.3 billion.
New orders for manufactured nondurable goods increased $2.1 billion or 1.0 percent to $201.4 billion.
Shipments. Shipments of manufactured durable goods in December, up four consecutive months, increased $5.0 billion or 2.8 percent to $181.7 billion, revised from the previously published 2.9 percent increase. This followed a 0.8 percent November increase.
Transportation equipment, up three of the last four months, had the largest increase, $1.8 billion or 4.2 percent to $45.8 billion.
Shipments of manufactured nondurable goods, up eight of the last nine months, increased $2.1 billion or 1.0 percent to $201.4 billion. This followed a 2.2 percent November increase. This increase was led by petroleum and coal products, which increased $1.2 billion or 2.8 percent to $44.7 billion.
Unfilled Orders. Unfilled orders for manufactured durable goods in December, down fifteen consecutive months, decreased $7.4 billion or 1.0 percent to $716.7 billion, revised from the previously published 1.2 percent decrease. This was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992 and followed a 0.7 percent November decrease.
Transportation equipment, down fourteen of the last fifteen months, had the largest decrease, $7.8 billion or 1.9 percent to $409.7 billion.
Inventories. Inventories of manufactured durable goods in December, down twelve consecutive months, decreased $0.5 billion or 0.2 percent to $302.8 billion, unchanged from the previously published decrease. This followed a 0.2 percent November decrease. Fabricated metal products, down fourteen of the last fifteen months, had the largest decrease, $0.3 billion or 0.8 percent to $36.7 billion.
Inventories of manufactured nondurable goods, up three consecutive months, increased $0.2 billion or 0.1 percent to $192.2 billion. This followed a 0.8 percent November increase.
Petroleum and coal products drove the increase, up $1.2 billion or 4.0 percent to $31.2 billion.
By stage of fabrication:
- Materials and supplies decreased 0.1 percent in durable goods and increased 1.8 percent in nondurable goods.
- Work in process increased 0.1 percent in durable goods and 0.8 percent in nondurable goods.
- Finished goods decreased 0.5 percent in durable goods and 1.4 percent in nondurable goods.
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