U.S. manufactured goods orders decreased by 3.6% in October

New orders for U.S. manufactured goods in October 2023, down following two consecutive monthly increases, decreased $21.8 billion or 3.6% to $576.8 billion. This followed a 2.3% September increase, as the U.S. Census Bureau reported.

Shipments, down two consecutive months, decreased $8.2 billion or 1.4% to $577.8 billion. This followed a virtually unchanged September decrease. Unfilled orders, up ten of the last eleven months, increased $4.0 billion or 0.3% to $1,356.8 billion. This followed a 1.3% September increase.

The unfilled orders-to-shipments ratio was 6.90, up from 6.88 in September. Inventories, up four consecutive months, increased $0.5 billion or 0.1% to $857.0 billion. This followed a 0.1% September increase. The inventories-to-shipments ratio was 1.48, up from 1.46 in September.