Manufacturers' Shipments, Inventories, and Orders

Highlights from the Preliminary Report on Manufacturers' Shipments, Inventories, and Orders

December 1999(M3-1-(99)-12)--------------- Released 10:00 A.M. EDT February 3, 2000
Note: All figures in text are in seasonally adjusted current dollars
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PRELIMINARY HIGHLIGHTS:

Summary

New orders for manufactured goods in December increased $12.1 billion or 3.3 percent to $377.8 billion, the Department of Commerce, Bureau of the Census reported today. This follows a 1.4 percent November increase and is the largest increase since December 1992. Shipments increased $2.4 billion or 0.7 percent to $367.4 billion, following a 1.3 percent November increase. This is the seventh increase in the last eight months. Unfilled orders increased $10.4 billion or 2.0 percent to $537.0 billion, following a 0.1 percent November increase. This is the sixth consecutive increase and the largest since November 1997. Inventories increased $1.1 billion or 0.2 percent to $471.0 billion, following a 0.5 percent November increase. This is the fourth consecutive increase. The inventories-to-shipments ratio was 1.28, down from 1.29 in November.

[Graph Of Manufacturers' New Orders]

New Orders

New orders for manufactured durable goods in December increased $11.3 billion or 5.5 percent to $216.1 billion, revised from the previously published 4.1 percent increase. New orders for nondurable goods, up seven of the last eight months, increased $0.9 billion or 0.5 percent to $161.7 billion. Petroleum and coal products had the largest increase.

Shipments

Shipments of durable goods in December increased $1.3 billion or 0.6 percent to $205.8 billion, revised from the previously published 0.7 percent increase. This is the seventh increase in the last eight months.

Shipments of nondurable goods increased $1.1 billion or 0.7 percent to $161.6 billion. This is the eighth consecutive increase. Petroleum and coal products, up ten of the last eleven months, increased $0.5 billion or 3.1 percent to $17.2 billion.

Unfilled Orders

Unfilled orders for durable goods in December increased $10.3 billion or 2.1 percent to $511.2 billion, revised from the previously published 1.5 percent increase. This is the sixth consecutive monthly increase and the largest since November 1997. Electronic and other electrical equipment, up thirteen consecutive months, had the largest increase, $5.7 billion or 7.1 percent to $85.9 billion. This is the largest increase since August 1997. Transportation equipment, up for the first time since January, increased $3.9 billion or 1.8 percent to $225.8 billion. Instruments and related products, up for the first time since May, increased $0.9 billion or 2.1 percent to $46.6 billion. This is the largest increase since July 1997. Industrial machinery and equipment, down for the first time since June, decreased $0.4 billion or 0.4 percent to $80.9 billion.

Inventories

Inventories of durable goods in December increased $0.4 billion or 0.1 percent to $295.3 billion. This is the fourth consecutive increase.

Inventories of nondurable goods, up nine of the last ten months, increased $0.8 billion or 0.4 percent to $175.6 billion. Chemicals and allied products had the largest increase, $0.3 billion or 0.6 percent to $47.7 billion.

By stage of fabrication, December finished goods increased 0.7 percent in durables and 0.4 percent in nondurables. Work in process decreased 1.5 percent in durables and 0.2 percent in nondurables. Materials and supplies increased 1.5 percent in durables and 0.8 percent in nondurables.

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Released February 3, 2000. Note: All figures in text are in seasonally adjusted current dollars. The advance report on durable goods for January is scheduled for February 24, 1999 at 8:30 a.m. and the full report on March 3, 2000 at 10:00 a.m. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402.