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The following is the text of the U.S. durable goods report released by the Commerce Department.
New orders for manufactured durable goods in January decreased $8.6 billion or 4.0 percent to $206.1 billion, the U.S. Census Bureau announced today. This decrease, down following three consecutive monthly increases, followed a 3.2 percent December increase. Excluding transportation, new orders decreased 3.2 percent. Excluding defense, new orders decreased 4.5 percent. Transportation equipment, down following two consecutive monthly increases, had the largest decrease, $3.6 billion or 6.1 percent to $55.2 billion. This was due to nondefense aircraft and parts, which decreased $3.8 billion.
Shipments of manufactured durable goods in January, up two consecutive months, increased $0.8 billion or 0.4 percent to $207.8 billion. This followed a 1.9 percent December increase. Transportation equipment, also up two consecutive months, had the largest increase, $2.6 billion or 5.4 percent to $50.3 billion. This followed a 1.0 percent December increase.
Unfilled orders for manufactured durable goods in January, up twenty-one of the last twenty-two months, increased $4.8 billion or 0.5 percent to $917.1 billion. This followed a 1.5 percent December increase. Transportation equipment, up twelve of the last thirteen months, had the largest increase, $4.9 billion or 0.9 percent to $535.1 billion.
Inventories of manufactured durable goods in January, up twenty- five consecutive months, increased $2.6 billion or 0.7 percent to $372.5 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.3 percent December increase. Machinery, up twenty-two consecutive months, had the largest increase, $0.9 billion or 1.4 percent to $61.4 billion.
Nondefense new orders for capital goods in January decreased $5.4 billion or 6.3 percent to $79.5 billion. Shipments decreased $0.6 billion or 0.9 percent to $70.9 billion. Unfilled orders increased $8.6 billion or 1.6 percent to $554.4 billion. Inventories increased $1.7 billion or 1.0 percent to $172.0 billion. Defense new orders for capital goods in January increased $0.9 billion or 17.7 percent to $5.9 billion. Shipments decreased $0.3 billion or 3.5 percent to $7.4 billion. Unfilled orders decreased $1.4 billion or 1.0 percent to $147.2 billion. Inventories increased $0.1 billion or 0.6 percent to $20.2 billion.
Revised seasonally adjusted December figures for all manufacturing industries were: new orders, $466.5 billion (revised from $466.2 billion); shipments, $458.9 billion (revised from $459.4 billion); unfilled orders, $912.4 billion (revised from $911.5 billion); and total inventories, $610.6 billion (revised from $610.1 billion).
Revised and more detailed estimates, plus nondurable goods data, will be published on March 5, 2012, at 10:00 a.m. EST. The advance report on durable goods for February is scheduled for release on March 28, 2012, at 8:30 a.m. EDT. See back page for survey description.
SOURCE: U.S. Commerce Department. http://www.census.gov/m3
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