New orders for US manufactured durable goods - -  expected to last at least three years  --  in December increased $0.5 billion or 0.3 per cent  to $167.9 billion, the US Census Bureau announced today. This increase followed two consecutive monthly decreases including a 0.4 per cent  November decrease. Excluding transportation, new orders increased 0.9 per cent . Excluding defense, new orders increased 0.3 per cent . Machinery, up three of the last four months, had the largest increase, $1.4 billion or 6.0 per cent  to $24.1 billion.  Meanwhile, the number of US workers filing new claims for jobless benefits fell slightly last week, the Labor Department said in its weekly report Thursday.

Shipments

Shipments of manufactured durable goods in December, up four consecutive months, increased $5.1 billion or 2.9 per cent  to $181.9 billion. This followed a 0.8 per cent  November increase. Transportation equipment, up three of the last four months, had the largest increase, $1.9 billion or 4.3 per cent  to $45.9 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in December, down fifteen consecutive months, decreased $8.6 billion or 1.2 per cent  to $715.5 billion. This was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992 and followed a 0.7 per cent  November decrease. Transportation equipment, down fourteen of the last fifteen months, had the largest decrease, $8.6 billion or 2.1 per cent  to $408.9 billion.

Inventories

Inventories of manufactured durable goods in December, down twelve consecutive months, decreased $0.6 billion or 0.2 per cent  to $302.7 billion. This followed a 0.2 per cent  decrease in November. Fabricated metal products, down fourteen of the last fifteen months, had the largest decrease, $0.4 billion or 1.0 per cent  to $36.6 billion.

Capital Goods

Nondefense new orders for capital goods in December decreased $0.1 billion or 0.2 per cent  to $53.7 billion. Shipments increased $2.1 billion or 3.7 per cent  to $59.6 billion. Unfilled orders decreased $5.9 billion or 1.4 per cent  to $407.9 billion. Inventories decreased $0.6 billion or 0.4 per cent  to $131.7 billion. Defense new orders for capital goods in December decreased $0.2 billion or 2.8 per cent  to $8.1 billion. Shipments decreased $0.1 billion or 1.2 per cent  to $10.6 billion. Unfilled orders decreased $2.5 billion or 1.9 per cent  to $132.4 billion. Inventories decreased $0.4 billion or 1.9 per cent  to $19.8 billion.

Jobs

Initial claims for jobless benefits dropped by 8,000 to 470,000 in the week ended Jan. 23rd. The previous week's level was revised to 478,000 from 482,000.

The four-week moving average, which seeks to smooth volatility in the data, increased for the week ending Jan. 23rd. The Labor Department said the four-week moving average went up by 9,500 to 456,250 from the previous week's revised average of 446,750.

The number of continuing claims, tracking claimants getting benefits for more than one week, in the week ended Jan 16th -- fell by 57,000 to 4,602,000 from the preceding week's revised level of 4,659,000.