Economic Watch: Factory Shipments and Orders Hit Record High
January 06, 2014
Shipments and new orders for manufactured goods in the United State both hit their highest levels on record, according to a new U.S. Commerce Department report released on Monday.
Shipments, up six out of the last seven months, increased 1% in November from the month before, while new orders, up two out of the last three months, gained 1.8%. Both are records, which go back to 1992.
Shipments of manufactured durable goods, those designed to last at least three years, up for four straight months, increased 1.8% and is also at the highest level on record, while shipments of machinery jumped 4.2%. Nondurable goods shipments increased 0.3%, following three straight monthly declines.
New orders were driven by a near 22% increase in the aircraft sector. When it’s removed from the overall figure, new orders increased 0.6%, while transportation new orders saw an 8.3% gain and orders for manufactured nondurable goods rose 0.3%
This news follows a separate report form the nation’s purchasing managers last week that factory activity last months is around a two and half-year high while a separate government report from earlier shows the nation’s manufacturers added 66,000 jobs in July through November.