Steve Jurvetson / Wikimedia Commons | CC BY 2.0 | Archive, 2012
New orders for U.S. manufactured goods rose 1.8% in September to $677.2 billion, beating forecasts as demand increased for a third consecutive month, the Census Bureau reported Tuesday.
The $12.2 billion monthly gain topped the 1.2% consensus forecast reported by Seeking Alpha. August’s increase was revised to 0.3% from 0.1%.
The Census Bureau’s full September report showed shipments rose 1.3%, or $8.8 billion, to $668.5 billion. Shipments have increased in 11 of the past 12 months.
Unfilled orders grew 0.9%, or $13.8 billion, to $1,623.8 billion, while inventories increased 0.4%, or $3.7 billion, to $976.0 billion. Inventories have risen for 12 consecutive months.
The inventories-to-shipments ratio edged down to 1.46 from 1.47 in August. The unfilled orders-to-shipments ratio also declined, to 6.84 from 6.86.
JBizNews Desk | Washington
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