US lowers estimate for orders of durable goods

04 February 2008 21:51  [Source: ICIS news]

HOUSTON (ICIS news)--The US Commerce Department lowered on Monday its estimate of new orders for durable goods placed in December.

The group says that new orders for durable goods reached $226.1bn (€153.7bn) in December, compared with its earlier estimate of $226.6bn. Durable goods typically last for at least a year.

The revised figures are still up from November, when new orders reached $215.2bn.

Unfilled orders for durable goods reached $808.7bn in December, up from $788.7bn in November. This was the highest level reached since 1992, when the department started keeping track of such statistics.

Inventories reached $320.2bn in December, up from $317.0bn in November. This was also the highest level reached.

The US Commerce Department also broke down figures for chemical products as well as plastics and rubber products.

Inventories of chemical products reached $63.5bn in December, down from $63.9bn in November. 

Inventories of plastics and rubber products reached $21.2bn in December, up from $21.0bn in November.

($1.00 = €0.68)


By: Al Greenwood
+1 713 525 2645



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