Orders for Durable Goods Fall

New orders for manufactured durable goods in October decreased $1.0 billion or 0.6 percent to $166.2 billion, the U.S. Census Bureau announced today. This was the second monthly decrease in the last three months. This followed a 2.0 percent September increase. Excluding transportation, new orders decreased 1.3 percent.

Machinery, after two consecutive monthly increases, had the largest decrease, $1.9 billion or 8.0 percent to $21.8 billion.

Unfilled orders for manufactured durable goods in October, down thirteen consecutive months, decreased $3.0 billion or 0.4 percent to $730.4 billion. This is the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992 and followed a 0.4 percent September decrease.

Year-to-date all sectors are down except military spending.

YTD Defense Aircraft and parts shipments are up 21.1%
YTD Defense Aircraft and parts new orders are up 8.8%
YTD Defense Capital goods shipments are up 16.2%
YTD Defense Capital Goods new orders are up 1.0%

YTD shipments for all sectors are down 18.0%
YTD new orders for all sectors are down 23%

Bottom line: The military-industrial complex is alive and well.