The US Census Bureau and the Department of Commerce announced Friday that new orders for manufactured goods in October decreased $3.6 billion, or 0.9 percent, to $420.1 billion, following a3 percent September increase.
Shipments, up three of the last four months, increased $1.5 billion or 0.3 percent to $421 billion in October, after a 0.7 percent September increase.
The value of manufacturer's shipments for primary metals, which includes shipments from iron and steel mills and ferrous metal foundries, totaled $19.9 million, down 0.2 percent over September. The value of machinery shipments also fell in October, dropping to $24.5 million from $25.5 million in the prior month.
Unfilled orders, up nine of the last 10 months, increased $5.2 billion or 0.6 percent to $821.6 billion, following a 1.3 percent September increase. The unfilled orders-to-shipments ratio was 5.76, up from 5.67 in September.
Inventories, also up nine of the last 10 months, increase $4.7 billion or 0.9 percent to $538.2 billion. This followed a 1.1 percent September increase. The inventories-to-shipments ratio was 1.28, up from 1.27 in September.