The U.S. Department of Commerce released the durable goods report for the month of September on Tuesday morning. New orders for manufactured durable goods in September fell 1.3% to $241.6 billion. This has dropped for two consecutive months, specifically 18.3% in August. Excluding transportation, new orders decreased 0.2%, and excluding defense, new orders decreased 1.5%.

Transportation equipment has fallen for two consecutive months as well, and it has led the decrease at 3.7% to $73.4 billion.

Shipments were up in three of the past four months, and in September increased 0.1%, following a 1.8% decrease in August.

Unfilled orders have been up 17 of the past 18 months, and in September increased 0.3%. This was at the highest level since the series was first published on a NAICS basis in 1992. August posted a 0.6% increase.

Inventories have been up 17 of the past 18 months and increased 0.4% in September. This also was the highest level since the series was first published on a NAICS basis, and it followed a 0.4% increase in August.

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Nondefense new orders for capital goods in September fell 5.4%. Shipments increased 0.5%, unfilled orders increased 0.2% and inventories increased 0.6%.

Defense new orders for capital goods in September increased 7.4%. Shipments decreased 1.3%. Unfilled orders decreased 0.2%, while inventories decreased 1.2%.

Revised seasonally adjusted August figures for all manufacturing industries were:

• New orders, $502.2 billion (revised from $502.0 billion)
• Shipments, $502.8 billion (revised from $503.1 billion)
• Unfilled orders, $1,164.9 billion (revised from $1,164.5 billion)
• Total inventories, $653.9 billion (unchanged)

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