Durable Goods Orders Fall Again in September

The U.S. Department of Commerce released the durable goods report for the month of September on Tuesday morning. New orders for manufactured durable goods in September fell 1.3% to $241.6 billion. This has dropped for two consecutive months, specifically 18.3% in August. Excluding transportation, new orders decreased 0.2%, and excluding defense, new orders decreased 1.5%.

Transportation equipment has fallen for two consecutive months as well, and it has led the decrease at 3.7% to $73.4 billion.

Shipments were up in three of the past four months, and in September increased 0.1%, following a 1.8% decrease in August.

Unfilled orders have been up 17 of the past 18 months, and in September increased 0.3%. This was at the highest level since the series was first published on a NAICS basis in 1992. August posted a 0.6% increase.

Inventories have been up 17 of the past 18 months and increased 0.4% in September. This also was the highest level since the series was first published on a NAICS basis, and it followed a 0.4% increase in August.

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Nondefense new orders for capital goods in September fell 5.4%. Shipments increased 0.5%, unfilled orders increased 0.2% and inventories increased 0.6%.

Defense new orders for capital goods in September increased 7.4%. Shipments decreased 1.3%. Unfilled orders decreased 0.2%, while inventories decreased 1.2%.

Revised seasonally adjusted August figures for all manufacturing industries were:

• New orders, $502.2 billion (revised from $502.0 billion)
• Shipments, $502.8 billion (revised from $503.1 billion)
• Unfilled orders, $1,164.9 billion (revised from $1,164.5 billion)
• Total inventories, $653.9 billion (unchanged)

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