27 February 2013 16:21 [Source: ICIS news]
HOUSTON (ICIS)--US orders for durable goods fell by 5.2% in January, following four consecutive monthly increases, the Department of Commerce said on Wednesday.
In its monthly report, the department said new orders for durable goods in January were at $217bn, a decrease of $11.8bn from December. New orders in December increased by 3.7%.
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 and chemical-based products used in manufacturing processes or as end-product components.
The report indicated a 1.2% decrease in shipments of manufactured durable goods in January, following four consecutive monthly increases. Shipments fell by $2.7bn to $226.1bn.
Shipments of transportation equipment had the largest decrease, falling by $1.6bn or 2.3% to $64.7bn.
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 disproportionally affect the big picture.
With unfulfilled orders of manufactured goods, January had a 0.2% drop after four consecutive monthly increases. Unfulfilled orders fell to $989.2bn, a $2.1bn decrease.
Transportation equipment drove the decrease with a $5bn decline. The change was a 0.9% decrease to $582.8bn.
Inventories of produced but unsold durable goods in January increased by $700m, up 0.2% from $374.8bn. The January gain followed a 0.1% decrease in December.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections