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

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UPDATE: December durable goods orders data are out.

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

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

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

However, nondefense capital goods shipments excluding aircraft rose 0.3 percent, missing expectations of a 0.8 percent 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 percent to $230.7 billion, the U.S. Census Bureau announced today. This increase, up seven of the last eight months, followed a 0.7 percent November increase. Excluding transportation, new orders increased 1.3 percent.

Excluding defense, new orders increased 1.2 percent.

Transportation equipment, up following two  consecutive monthly decreases, had the largest increase,  $8.1 billion or 11.9 percent 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 percent to $230.6 billion. This followed a  1.8 percent November increase.

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

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

Capital Goods

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

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

Defense new orders for capital goods in December increased $8.7 billion or 110.4 percent to $16.5 billion.

Shipments increased $0.5 billion or 6.1 percent to $9.1 billion. Unfilled orders increased $7.5 billion or 4.6 percent to $171.5 billion. Inventories decreased $0.3 billion or 1.4 percent 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 >

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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 percent in December after a 0.8 percent 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 percent decline after expanding 2.6 percent in November.

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



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