December durable goods orders increase
New orders for manufactured durable goods in December increased $0.5 billion or 0.3 percent to $167.9 billion, the U.S. Census Bureau announced today.
This increase followed two consecutive monthly decreases including a 0.4 percent November decrease. Excluding transportation, new orders increased 0.9 percent.
Excluding defense, new orders increased 0.3 percent. Machinery, up three of the last four months, had the largest increase, $1.4 billion or 6.0 percent to $24.1 billion.
Shipments of manufactured durable goods in December, up four consecutive months, increased $5.1 billion or 2.9 percent to $181.9 billion. This followed a 0.8 percent November increase. Transportation equipment, up three of the last four months, had the largest increase, $1.9 billion or 4.3 percent to $45.9 billion.
Industry analyst Daniel J. Meckstroth, chief economist for the Manufacturers Alliance/MAPI, said today's report indicates the manufacturing sector is regaining its footing.
“After a long, steep decline in industrial activity that bottomed out last June, some pent up demand for equipment repair and replacement is emerging,” he said. “The outlook for 2010 is for moderate production growth with the large majority of manufacturing industries posting some growth.”
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INDUSTRIAL SUPPLY MAGAZINE
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