US durable goods orders down 5.3% in January

27 February 2008 16:46  [Source: ICIS news]

MUMBAI (ICIS news)--New orders for US durable goods in January fell 5.3% to $212.8bn (€142.6bn), driven by a 13.4% decrease in the transportation equipment sector, the US Commerce Department said on Wednesday.

This decrease followed two consecutive monthly increases, including a 4.4% increase in December.

New orders for transportation equipment fell to $61.2bn, following three consecutive monthly increases.

Unfilled orders for manufactured durable goods increased by 0.6% to $813.2bn, the department said. So far, unfilled orders have been up 32 out of the past 33 months.

In addition, January's unfilled orders were at their highest level since the department started keeping track of the statistic in 1992.

Inventories of durable goods, up six of the last seven months, rose by 0.6% to $322.3bn. This was also at the highest level since the department started following the statistic.

Durable goods are manufactured products meant to last at least three years and include such items as automobiles, electrical appliances, transportation and manufacturing equipment.

Many durable goods such as computers, washing machines and cars, are major downstream markets for chemicals and chemicals-based products and components.

US durable goods orders and inventories

	January ($bn)	January vs December (%)	December vs November (%) (r)
New orders	212.8	-5.3	4.4
Unfilled orders	813.2	0.6	2.5
Total inventories	322.3	0.6	1.1

R: revised; *seasonally adjusted

($1 = €0.67)

By: Divya Chowdhury
+65 6780 4359

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