US Factory Orders fall worse than expected (November data delayed due to Gov’t shutdown)

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Summary

New orders for manufactured goods in November, down two consecutive months, decreased $3.1 billion or 0.6 percent to $499.2 billion, the U.S. Census Bureau reported today. This followed a 2.1 percent October decrease. Shipments, down two consecutive months, decreased $3.2 billion or 0.6 percent to $505.1 billion. This followed a 0.1 percent October decrease. Unfilled orders, down two consecutive months, decreased $1.8 billion or 0.1 percent to $1,181.5 billion. This followed a 0.2 percent October decrease. The unfilled orders‐to‐shipments ratio was 6.60, down from 6.68 in October. Inventories, down following twenty‐four consecutive monthly increases, decreased $1.0 billion or 0.1 percent to $681.1 billion. This followed a 0.2 percent October increase. The inventories‐to‐shipments ratio was 1.35, up from 1.34 in October.

New Orders

New orders for manufactured durable goods in November, up following two consecutive monthly decreases, increased $1.8 billion or 0.7 percent to $250.8 billion, down from the previously published 0.8 percent increase. This followed a 4.3 percent October decrease. Transportation equipment, up three of the last four months, drove the increase, $2.5 billion or 3.0 percent to $87.0 billion. New orders for manufactured nondurable goods decreased $4.9 billion or 1.9 percent to $248.4 billion.

Shipments

Shipments of manufactured durable goods in November, up three of the last four months, increased $1.8 billion or 0.7 percent to $256.7 billion, unchanged from the previously published increase. This followed a 0.3 percent October decrease. Transportation equipment, also up three of the last four months, drove the increase, $1.8 billion or 2.1 percent to $89.5 billion. Shipments of manufactured nondurable goods, down following eight consecutive monthly increases, decreased $4.9 billion or 1.9 percent to $248.4 billion. This followed a 0.1 percent October increase. Petroleum and coal products, also down following eight consecutive monthly increases, drove the decrease, $5.5 billion or 9.3 percent to $53.2 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in November, down two consecutive months, decreased $1.8 billion or 0.1 percent to $1,181.5 billion, unchanged from the previously published decrease. This followed a 0.2 percent October decrease. Transportation equipment, also down two consecutive months, drove the decrease, $2.5 billion or 0.3 percent to $812.4 billion.

Inventories

Inventories of manufactured durable goods in November, up twenty‐two of the last twenty‐three months, increased $1.6 billion or 0.4 percent to $413.7 billion, up from the previously published 0.3 percent increase. This followed a 0.2 percent October increase. Primary metals, up twenty‐four of the last twenty‐ five months, led the increase, $0.3 billion or 0.9 percent to $36.1 billion. Inventories of manufactured nondurable goods, down following sixteen consecutive monthly increases, decreased $2.6 billion or 1.0 percent to $267.4 billion. This followed a 0.1 percent October increase. Petroleum and coal products, down two consecutive months, drove the decrease, $3.1 billion or 7.3 percent to $39.8 billion. By stage of fabrication, November materials and supplies increased 0.7 percent in durable goods and decreased 0.7 percent in nondurable goods. Work in process decreased 0.1 percent in durable goods and decreased 1.6 percent in nondurable goods. Finished goods increased 0.7 percent in durable goods and decreased 0.9 percent in nondurable goods.

 

Census Bureau

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Ed Moya

With more than 20 years’ trading experience, Ed Moya is a market analyst with OANDA, producing up-to-the-minute fundamental analysis of geo-political events and monetary policies in the US, Europe, the Middle East and North Africa. Over the course of his career, he has worked with some of the world’s leading forex brokerages and research departments including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including BNN, CNBC, Fox Business, and Bloomberg. He is often quoted in leading print and online publications such as the Wall Street Journal and the Washington Post. He holds a BA in Economics from Rutgers University. Follow Ed on Twitter @edjmoya ‏

Ed Moya

Ed Moya







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