Manufacturers’ Shipments, Inventories, & Orders

Monthly Full Report on Manufacturers’ Shipments, Inventories, & Orders – Press Release, Census.Gov, November 4, 2025.

Briefly

– New orders for manufactured goods in September, down four of the last five months, decreased $2.8 billion or 0.5 percent to $584.2 billion, the U.S. Census Bureau reported today. This followed a 0.8 percent August decrease. – Shipments, down two consecutive months, decreased $2.2 billion or 0.4 percent to $586.9 billion. This followed a 0.7 percent August decrease. – Unfilled orders, up forty-nine of the last fifty months, increased $2.1 billion or 0.2 percent to $1,391.0 billion. This followed a 0.2 percent August increase. – The unfilled orders-to-shipments ratio was 6.94, up from 6.86 in August. Inventories, down following two consecutive monthly increases, decreased $1.9 billion or 0.2 percent to $858.1 billion. This followed a 0.1 percent August increase. – The inventories-to-shipments ratio was 1.46, unchanged from August.

Details

New Orders
New orders for manufactured durable goods in September, down three of the last four months, decreased $2.1 billion or 0.7 percent to $284.8 billion, up from the previously published 0.8 percent decrease. This followed a 0.9 percent August decrease. Transportation equipment, also down three of the last four months, drove the decrease, $3.1 billion or 3.1 percent to $95.4 billion. New orders for manufactured nondurable goods decreased $0.7 billion or 0.2 percent to $299.4 billion.

Shipments
Shipments of manufactured durable goods in September, down two consecutive months, decreased $1.6 billion or 0.5 percent to $287.5 billion, up from the previously published 0.6 percent decrease. This followed a 0.6 percent August decrease. Transportation equipment, also down two consecutive months, drove the decrease, $2.3 billion or 2.4 percent to $94.4 billion. Shipments of manufactured nondurable goods, down two consecutive months, decreased $0.7 billion or 0.2 percent to $299.4 billion. This followed a 0.7 percent August decrease. Petroleum and coal products, down four of the last five months, drove the decrease, $1.0 billion or 1.6 percent to $61.5 billion.

Unfilled Orders
Unfilled orders for manufactured durable goods in September, up forty-nine of the last fifty months, increased $2.1 billion or 0.2 percent to $1,391.0 billion, unchanged from the previously published increase. This followed a 0.2 percent August increase. Transportation equipment, up forty-four of the last forty-five months, led the increase, $1.0 billion or 0.1 percent to $895.0 billion.

Inventories
Inventories of manufactured durable goods in September, down three of the last four months, decreased $1.0 billion or 0.2 percent to $528.1 billion, unchanged from the previously published decrease. This followed a virtually unchanged August decrease. Transportation equipment, also down three of the last four months, led the decrease, $1.0 billion or 0.6 percent to $171.0 billion. Inventories of manufactured nondurable goods, down three of the last four months, decreased $0.9 billion or 0.3 percent to $329.9 billion. This followed a 0.3 percent August increase. Petroleum and coal products, also down three of the last four months, drove the decrease, $1.0 billion or 2.2 percent to $46.6 billion. By stage of fabrication, September materials and supplies increased 0.2 percent in durable goods and decreased 0.4 percent in nondurable goods. Work in process decreased 0.4 percent in durable goods and increased 1.4 percent in nondurable goods. Finished goods decreased 0.5 percent in durable goods and 0.9 percent in nondurable goods.

The Advance Report on durable goods for October is scheduled for release on November 27, 2024, at 8:30 a.m. EST and the Full Report on December 4, 2024, at 10:00 a.m. EST. View the full schedule in the Economic Briefing Room.