Last week, the U.S. Census Bureau announced the September full report on manufacturers shipments, inventories and orders which is a reliable barometer on the health of the economy reporting the month to month change in new orders for manufactured goods.
Overall, September orders came in at an increase of $6.5 billion, or 1.4%, to $478.5 billion. After some uncertainty through the summer months of 2017, we’ve seen growth in three of the last four months including 1.2% growth in August which was followed up with the September gain.
Manufactured Durable Goods
New orders for manufactured durable goods in September, up three of the last four months, increased $4.7 billion or 2.0 percent to $238.4 billion. The new orders category was buoyed by a strong month in the transportation equipment segment, also showing growth in three of the last four months, with a 4.7% increase to $80.9 billion.
Shipments of manufactured durable goods in September, up four of the last five months, increased $2.1 billion or 0.9 percent to $240.3 billion, down from the previously published 1.0 percent increase. This followed a 0.7 percent August increase. Transportation equipment also drove the momentum in the shipments category with an increase of $0.8 billion or 1.1 percent to $79.5 billion.
Unfilled orders for manufactured durable goods in September, up following two consecutive monthly decreases, increased $2.7 billion (0.2%) to $1,135.0 billion.
Inventories of manufactured durable goods in September, up fourteen of the last fifteen months, increased $2.6 billion or 0.6 percent to $403.9 billion. Transportation equipment led the surge with an increase of $1.0 billion to $131.0 billion.
In summary, all of the strength shown in the report would indicate that we in the trucking industry are in for a strong fourth quarter of transporting all of these newly created goods and materials.