04 January 2013 17:01 [Source: ICIS news]
HOUSTON (ICIS)--US orders for durable goods rose by 0.8% in November from October, the Department of Commerce said on Friday.
In its monthly report, the department said new orders for durable goods in November were at $220.9bn (€170.1bn), an increase of $1.7bn from the October figure.
The slight improvement marked the sixth gain in the last seven months. October had a revised increase of 1.1%.
Durable goods are manufactured products meant to last three years or more and include such items as automobiles, appliances, transportation and manufacturing equipment.
Many durable goods, such as computers and automobiles, are major downstream markets for chemicals and chemicals-based products used in manufacturing processes or as end-product components.
The report indicated a 1.6% increase in shipments of manufactured durable goods in November. Shipments rose by $3.5bn to $227bn, the fourth gain in the last five months.
Shipments of transportation equipment had the largest increase, $1.4bn or 2.2%, to $65.6bn.
Transportation orders often are separated from the overall durable goods data because aviation purchases typically are made in multiple-plane batches. In any given month, those sales or their lack can disproportionately affect the big picture.
With unfulfilled orders of manufactured durable goods, November had its fifth gain in the last six months with a $1.1bn increase, or 0.1% to $984.5bn.
Transportation equipment also had the largest increase in the category with a $1.9bn gain, or 0.3% to $579.6bn.
Inventories of produced but unsold durable goods in November rose by 0.2%, an increase of $800m to $374.8bn. This was the highest level since the data series began in 1992. The November gain followed a 0.3% increase in October.
($1 = €0.77)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections