CRUSHED IT: DURABLE GOODS ORDERS UP 4.6%, MORE THAN DOUBLE ESTIMATES

Boeing Aircraft Assembly Line Manufacturing Manufacture

Photo: Stephen Brashear/Getty Images

UPDATE: December durable goods orders data are out.Click here to refresh for LIVE updates >

The headline number rose 4.6 per cent, exceeding expectations of a 2.0 per cent rise.

Core capex (nondefense capital goods orders excluding aircraft) rose 0.2 per cent versus expectations of a 0.4 per cent decline.

Durable goods excluding transportation rose 1.3 per cent versus expectations of a 0.8 per cent gain.

However, nondefense capital goods shipments excluding aircraft rose 0.3 per cent, missing expectations of a 0.8 per cent gain.

Below is the text from the release:

New Orders

New orders for manufactured durable goods in December increased $10.0 billion or 4.6 per cent to $230.7 billion, the U.S. Census Bureau announced today. This increase, up seven of the last eight months, followed a 0.7 per cent November increase. Excluding transportation, new orders increased 1.3 per cent.

Excluding defence, new orders increased 1.2 per cent.

Transportation equipment, up following two consecutive monthly decreases, had the largest increase, $8.1 billion or 11.9 per cent to $75.9 billion.

Shipments

Shipments of manufactured durable goods in December, up five of the last six months, increased $2.9 billion or 1.3 per cent to $230.6 billion. This followed a 1.8 per cent November increase.

Primary metals, up three of the last four months, had the largest increase, $1.2 billion or 4.2 per cent to $30.7 billion. This followed a 5.0 per cent November increase.

Unfilled Orders

Unfilled orders for manufactured durable goods in December, up six of the last seven months, increased $8.2 billion or 0.8 per cent to $992.0 billion. This increase followed a slight November increase.

Transportation equipment, also up six of the last seven months, drove the increase, $9.0 billion or 1.6 per cent to $588.8 billion.

Inventories

Inventories of manufactured durable goods in December, down following 14 consecutive monthly increases, decreased $0.1 billion to $374.5 billion. This decrease followed a 0.1 per cent November increase.

Machinery, down four consecutive months, drove the decrease, $0.4 billion or 0.6 per cent to $66.1 billion.

Capital Goods

Nondefense new orders for capital goods in December increased $2.7 billion or 3.8 per cent to $73.8 billion.

Shipments increased $0.5 billion or 0.7 per cent to $71.9 billion. Unfilled orders increased $1.9 billion or 0.3 per cent to $585.7 billion. Inventories decreased $0.6 billion or 0.3 per cent to $173.0 billion.

defence new orders for capital goods in December increased $8.7 billion or 110.4 per cent to $16.5 billion.

Shipments increased $0.5 billion or 6.1 per cent to $9.1 billion. Unfilled orders increased $7.5 billion or 4.6 per cent to $171.5 billion. Inventories decreased $0.3 billion or 1.4 per cent to $21.2 billion.

Revised November Data

Revised seasonally adjusted November figures for all manufacturing industries were: new orders, $477.4 billion (revised from $477.6 billion); shipments, $484.3 billion (revised from $483.7 billion); unfilled orders, $983.9 billion (revised from $984.5 billion); and total inventories, $614.9 billion (revised from $615.2 billion).

Click here for the full release >

—————–

ORIGINAL: Minutes away from the release of durable goods orders data for the month of December, due out in the U.S. at 8:30 AM ET.

Economists estimate that orders expanded 2.0 per cent in December after a 0.8 per cent rise in November.

The widely-tracked measure of nondefense capital goods orders excluding aircraft – commonly called “core capex” – is expected to post a 0.4 per cent decline after expanding 2.6 per cent in November.

We will have the full release LIVE at 8:30 AM ET. Click here to refresh for updates >

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.