US Manufacturers' Shipments, Inventories, and Orders

Data Industry

Source: Census Bureau
Source Link: https://www.census.gov/
Frequency: Monthly
Next Release(s): April 29th, 2026 8:30 AM

Link to historical releases: Advance, Full

Latest Updates

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New orders for manufactured goods fell -0.7% MoM in December, while shipments rose +0.5% MoM, showing softer demand but steady deliveries.
- Total new orders declined -$4.3B (-0.7% MoM) to $617.5B after +2.7% in November, marking decreases in two of the last three months.
- Excluding transport orders, manufactured goods new orders were actually up +0.4% MoM, matching the increase in shipments of +0.4% MoM in the same month.
- Durable goods orders fell -1.4% MoM, being the main drag, while nondurable goods orders were flat MoM.
- Shipments increased +$3.1B (+0.5% MoM) to $609.2B following a -0.2% MoM change in November, indicating continued outbound goods flow despite weaker orders.
- Unfilled orders rose +$13.4B (+0.9% MoM) to $1,527.5B, extending gains to 17 of the last 18 months and signaling continued backlog accumulation.
- The unfilled orders to shipments ratio edged down to 7.01 (from 7.04), showing backlog growth slightly slower relative to deliveries.
- Inventories increased +$1.0B (+0.1% MoM) to $949.6B after +0.2% in November, indicating modest stock building.
- The inventories-to-shipments ratio slipped to 1.56 (from 1.57), suggesting inventories remained stable relative to shipment volumes.
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U.S. manufactured goods new orders fell -1.4% MoM (vs -2.0% MoM expected) in December but were still up 7.8% YoY, while shipments were up 1.0% MoM and 3.7% YoY.
- Ex transport, new orders were up 0.9% MoM and 2.8% YoY, with shipments rising by 0.7% MoM and 2.4% YoY.
- Several segments saw strong new orders gains including primary metals (+1.7% MoM), fabricated metal products (+0.9% MoM), and computer & electronics (+3.0% MoM).
- Core capital goods new orders were up 0.6% MoM and 3.5% YoY in December alongside shipments increasing 0.9% MoM and 2.5% YoY.
- Total manufacturing unfilled orders increased 0.9% MoM and 1.4% MoM in the last two months, and at the end of 2025, were up 10.3% YoY.
- Despite the surge in unfilled orders, total inventories were up 0.2% MoM and 1.5% YoY.
- The unfilled order book is affected heavily by nondefense aircraft orders, up 20.3% YoY, while the core capital goods unfilled order book is up just 1.0% YoY.
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U.S. manufactured goods new orders rose +2.7% MoM in November, while shipments slipped -0.1% MoM, reflecting stronger order inflows alongside softer near-term deliveries.
- Total new orders increased +$16.2B (+2.7% MoM) to $621.6B, reversing October’s -1.2% MoM decline and marking gains in three of the past four months.
- Durable goods new orders were up 5.3% MoM (vs 5.3% MoM advance estimate), and non-durable goods new orders were unchanged MoM.
- Excluding transportation, new orders were up just 0.2% MoM. Core capital goods new orders increased 0.4% MoM, while shipments saw a slower 0.2% MoM increase.
- Shipments edged down -$0.8B (-0.1% MoM) to $606.3B after a +0.1% MoM rise in October, indicating limited follow-through from the pickup in new demand.
- Unfilled orders rose +$20.2B (+1.4% MoM) to $1,513.5B, extending increases to 16 of the last 17 months and pointing to continued backlog accumulation.
- The unfilled orders-to-shipments ratio climbed to 7.04 from 6.93, showing order backlogs are growing faster than goods are being delivered.
- Inventories increased +$1.4B (+0.1% MoM) to $948.4B, following a flat October reading and indicating modest stock building.
- The inventories-to-shipments ratio held at 1.56, suggesting inventory levels remained stable relative to current shipment volumes despite rising backlogs.
Source
Durable goods new orders jumped 5.3% MoM (vs 3.7% MoM expected) in November, the largest monthly gain since May 2025.
- Durable goods (ex transport) new orders increased 0.5% MoM (vs 0.3% MoM expected). The headline result was heavily affected by a 14.7% MoM increase in new orders for transport equipment.
- The strongest segments were machinery (+0.5% MoM), fabricated metal products (+1.0% MoM), and electrical equipment (+1.7% MoM).
- Core capital goods shipments and new order growth were both solid in November, at 0.4% MoM and 0.7% MoM, respectively. YoY new order growth remained at 3.1% YoY.
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US manufactured goods new orders fell -1.3% MoM (vs -1.2% MoM expected) in October, and ex-transport new orders were down -0.2% MoM. On an annual basis, new orders were up 3.3% YoY.
- Durable goods new orders were down -2.2% MoM and were slightly offset by the smaller decline of -0.4% MoM in the nondurable goods new orders.
- Computers and electronics new orders were up 1.3% MoM, but this was offset by the larger construction materials & supplies segment falling -0.3% MoM.
- Core capital goods new orders were up 0.5% MoM, building on the strong 1.0% MoM and 0.9% MoM gains in September and August.
- Total manufacturing unfilled orders increased 0.2% MoM and are up 8.0% YoY, suggesting a strong pipeline of demand for manufacturers (especially capital goods where capital goods order books were up 10.4% YoY).
Durable goods new orders fell -2.2% MoM (vs -1.5% MoM expected) in October, the largest monthly decline since June.
- Durable goods (ex transport) new orders were up 0.2% MoM (vs 0.3% MoM expected). The headline total was affected by a -6.5% MoM drop in transport orders.
- The strongest segments were machinery (+0.8% MoM) and electronic products (+1.0% MoM), offset by a -0.7% MoM decline in primary metal orders.
- Core capital goods shipments and new order growth were both solid in October, at 0.7% MoM and 0.5% MoM, respectively. YoY new order growth accelerated from 2.7% YoY to 3.1% YoY.
- Core capital goods inventories increased 0.2% MoM and 2.6% YoY in October, adding to a strong 0.4% MoM increase in September.
US manufactured goods new orders increased 0.2% MoM and 3.5% YoY in September, down from the 1.3% MoM increase in August.
- Excluding transport , manufactured goods orders were still up 0.2% MoM and actually stronger than a -0.1% MoM drop in August.
- Durable goods new orders increased 0.5% MoM, offsetting the -0.1% MoM decline in nondurable goods orders.
- Consumer goods new orders were unchanged MoM and down -0.7% YoY.
- Core capital goods (nondefense, ex-aircraft) shipments increased 0.9% MoM after a -0.1% MoM drop previously. New orders were also up 0.9% MoM, matching the 0.9% MoM increase in August.
- Core capital goods inventories were up 0.4% MoM and 2.5% YoY in September, while unfilled orders only increased 0.1% MoM and 0.6% YoY.
US durable goods new orders increased 0.5% MoM (vs 0.3% MoM expected) in September, adding to the 3.0% MoM increase in August.
- Ex transport orders were up 0.6% MoM (vs 0.2% MoM expected), continuing a string of moderately strong gains in August (+0.5% MoM) and July (+0.9% MoM).
- By segment, growth was strongest in primary metals (+1.4% MoM), electrical equipment (+1.5% MoM), and fabricated metal products (+0.5% MoM).
- Core capital goods shipments and new orders were both up 0.9% MoM, and on an annual basis, are up 1.5% YoY and 2.7% YoY, respectively.
- Core capital goods unfilled orders increased just 0.1% MoM and were up 0.6% YoY.
- Core capital goods inventories jumped 0.4% MoM and were up 2.5% YoY, fueled by machinery (+0.4% MoM) and primary metal (+0.4% MoM) inventory growth.