Below you will find the Advanced Report on Manufacturers' Shipments, Inventories, and Orders for September 2008. in brief, you will see that New Orders increased by 0.8 percent, Shipments increased 0.2 percent, Unfilled Orders increased 0.3 percent and Inventories increased 0.4 percent.
While my land surveying business hasn't picked up appreciably, the amount of telephone calls and inquiries for proposals however, has increased substantially since the last week of August 2008. Even during the financial meltdown and turmoil, the phones continue to ring and people appear to be ready to start spending money again.
What this means, in the long run, time will only tell. With my area, Rhode Island, in a recession for over a year now and the Presidential Election just five days away, I think we are starting to see the light at the end of the tunnel. Or, is this wishful thinking?
HIGHLIGHTS FROM THE ADVANCE REPORT ON MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS
New orders for manufactured durable goods in September increased $1.6 billion or 0.8 percent to $207.8 billion, the U.S. Census Bureau announced today. This was the fourth increase in the last five months and followed a 5.5 percent August decrease. Excluding transportation, new orders decreased 1.1 percent. Excluding defense, new orders decreased 0.6 percent.
Shipments of manufactured durable goods in September, up three of the last four months, increased $0.4 billion or 0.2 percent to $208.8 billion. This followed a 4.2 percent August decrease.
Unfilled orders for manufactured durable goods in September, up thirty-one of the last thirty-two months, increased $3.0 billion or 0.4 percent to $829.6 billion. This was at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.3 percent August increase.
Inventories of manufactured durable goods in September, up fourteen of the last fifteen months, increased $1.2 billion or 0.4 percent to $340.2 billion. This was also at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.8 percent August increase.
Capital Goods Industries
Nondefense new orders for capital goods in September increased $0.6 billion or 0.8 percent to $69.3 billion.
Defense new orders for capital goods in September increased $1.9 billion or 19.6 percent to $11.8 billion.
September 2008--------------- Released 8:30 A.M. EDT October 29, 2008
Note: All figures in text are in seasonally adjusted current dollars
Released October 29, 2008. This report presents advance information on two key business indicators: durable goods manufacturers' shipments and orders. Revised and more detailed estimates plus nondurable goods will be published November 4, 2008. The advance report on durable goods for October is scheduled for release November 26, 2008.