US durable goods orders rise 3% in Dec from Nov

26 January 2012 14:29  [Source: ICIS news]

WASHINGTON (ICIS)--US orders for manufactured durable goods rose by 3% in December from November, the Commerce Department said on Thursday, marking the third consecutive month of gains and the fifth monthly advance in the past six months.

In its monthly report, the department said that durable goods orders rose by $6.2bn (€4.7bn) to $214.5bn in the last month of 2011, and followed an upwardly revised 4.3% advance in November.

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

Many durable goods, such as computers and automobiles, are major downstream markets for chemicals, resins and derivatives used in manufacturing processes or as end-product components.

Within December’s figures, new orders for transportation equipment led, with a gain of 5.5%. That advance was driven largely by a near-19% jump in new orders for civilian aircraft and parts.

The department said that with new orders for transportation equipment are backed out of the overall totals, durable goods orders rose by 2.1% in December.

Orders for transportation equipment – such as civilian airliners, military equipment and autos – often vary widely month-to-month, so economists look to durable goods orders minus transportation to get a more balanced indication of manufacturing growth.

The report also said that unfilled orders for durable goods rose by $13.1bn or 1.5% in December to $912.3bn, and followed a 1.4% gain in November. Unfilled orders for durable goods have increased for 20 of the past 21 months.

Inventories of produced but unsold durable goods rose marginally in December, the department said, climbing by $1.2bn or 0.3% to $370.1bn.

This category has shown advances for 24 consecutive months and is at the highest level since the data set was initiated.

US durable goods orders and inventories*

 

 Dec           (bn $)

Dec vs Nov   (%)

Nov vs Oct (r) (%)

New orders

214.5

3.0

4.3

Unfilled orders

912.3

1.5

1.4

Total inventories

370.1

0.3

0.6

r: revised  *seasonally adjusted

($1 = €0.76)

Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy


By: Joe Kamalick
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index

Related Articles