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Macro Pulse highlights recent activity and events expected to affect the U.S. economy over the next 24 months. While the review is of the entire U.S. economy its particular focus is on developments affecting the Forest Products industry. Everyone with a stake in any level of the sector can benefit from
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Saturday, December 4, 2010

October 2010 Manufacturers’ Shipments, Inventories and New Orders

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Shipments and inventories at the total manufacturing level both posted gains in October, according to the U.S. Census Bureau, but new orders retreated.

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Total shipments, up three of the last four months, increased $1.5 billion (0.3 percent) to $421.0 billion. Shipments of durable goods decreased $1.8 billion (0.9 percent) to $196.6 billion, led by machinery. Nondurable goods shipments more than offset that decline, however, increasing $3.2 billion (1.5 percent) to $224.4 billion. Petroleum and coal products drove the nondurable increase.

Shipments of solid wood products rose by 2.8 percent, while paper products declined by 0.6 percent.
 
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Data from the Association of American Railroads indicated double-digit monthly percentage drops in rail shipments during October. The Ceridian-UCLA Pulse of Commerce Index (which measures diesel consumption of over-the-road trucking) also fell by 0.6 percent. So, although the value of shipments rose in October, the volume of goods shipped appears to have fallen.
 
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Total inventories, up nine of the last ten months, increased $4.7 billion (0.9 percent) to $538.2 billion in October. Durable goods inventories increased $1.5 billion (0.5 percent) to $316.9 billion, led (again) by machinery. Inventories of nondurable goods increased $3.2 billion (1.5 percent) to $221.3 billion; petroleum and coal products drove the nondurable goods increase.

Inventories of wood products dropped by 1.0 percent, but paper products increased by 0.4 percent.
 
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New orders, down following three consecutive monthly increases, decreased $3.6 billion (0.9 percent) to $420.1 billion. Excluding transportation, new orders decreased 0.2 percent. Orders for durable goods decreased $6.9 billion (3.4 percent) to $195.7 billion. Transportation equipment experienced the largest decrease ($2.8 billion or 5.2 percent). Nondurable goods orders increased $3.2 billion (1.5 percent) to $224.4 billion.

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