Durable goods orders rise more than expected

[mahatmakanejeeves]

Source: Fox Business

ECONOMY Published 11 mins ago

Durable goods orders rise more than expected

Orders for big-ticket items jumped 1.8% in August

Orders for big-ticket items jumped last month as manufacturers continued to navigate the supply-chain disruptions caused by COVID-19.

New orders for manufactured durable goods in August rose 1.8% to $263.5 billion, according to the Census Bureau. Analysts surveyed by Refinitiv were expecting a 0.7% increase.

Orders rose by an upwardly revised 0.5% in July after the initial reading showed a 0.1% decline.

Excluding transportation, orders rose 0.2% month over month, missing the 0.5% increase that was expected.

This story is developing. Check back for updates.

Read more: https://www.foxbusiness.com/economy/durable-goods-orders-august-2021

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Put your computer on mute to avoid the autoplay video.

From the source:

https://www.census.gov/manufacturing/m3/index.html

Advance Report Durable Goods
September 27th, 2021

https://www.census.gov/manufacturing/m3/adv/pdf/durgd.pdf

FOR RELEASE AT 8:30 AM EDT, MONDAY, SEPTEMBER 27, 2021

MONTHLY ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS’ SHIPMENTS,
INVENTORIES AND ORDERS AUGUST 2021

Release Number: CB 21-149 M3-1 (21)-08

Statement Regarding COVID-19 Impact: The Census Bureau continues to monitor response and data
quality and has determined that estimates in this release meet publication standards. For more
information, see < M3 COVID-19 FAQs>.

September 27, 2021 — The U.S. Census Bureau announces the August advance report on durable goods
manufacturers’ shipments, inventories and orders:

{snip}

[Historic NY]

1. Meanwhile many of these durable goods...

are sitting around the coasts because ships can't get in and get unloaded. Its claim there isn't enough trained help to get the containers off the boats. Maybe the President should bring in the military cargo handlers. Also to note, some ships have been on in the jamb for 30 days or more. Our consumer economy can't keep waiting months to get the stuff on shore.

[h2ebits]

5. I don't understand

Why can't ships get in and unloaded? Have the former workers died from COVID? Are the workers on strike for better wages? Why is there such a lack of trained workers?

This is the first that I have heard of this problem and I am really curious as to what is happening. I thought that the blockage in the Suez Canal was cleared months ago and assumed that the flow of container ships had caught up and things were moving efficiently by now.

Please help me with information on this problem. . .Thanks.

[Historic NY]

6. No help to operate machinery....

[link:https://www.theguardian.com/us-news/2021/sep/22/cargo-ships-traffic-jam-los-angeles-california|]

[link:https://www.wsj.com/articles/why-container-ships-cant-sail-around-the-california-ports-bottleneck-11632216603|]

[link:https://www.yahoo.com/now/look-record-breaking-port-congestion-181939208.html|]

[link:https://www.npr.org/sections/money/2021/06/15/1006381735/how-chaos-in-the-shipping-industry-is-choking-the-economy|]

Everything from cars to the parts to repair your kids bicycle

[link:https://www.businessinsider.com/shipping-delays-china-supply-chain-record-ships-stuck-california-ports-2021-8|]

Key ports in Southern California have hit a fourth record in less than three weeks, as shipping delays surge past early pandemic levels.

On Monday, 56 cargo ships were stuck at anchor or in drift areas off of Los Angeles and Long Beach ports. The ports are currently dealing with 140 total ship in the ports, including 87 freighters, according to the Marine Exchange of Southern California.

In late August, the ports hit an all-time high not seen since February, when the onset of the pandemic and panic-buying wreaked havoc on global supply chains.

The queue is a result of COVID-19-related disruptions, and holiday-buying surges, paired with a national labor shortage. Port of Los Angeles data indicates that ships' average wait times have increased to 8.5 days.

Then even that problem hit with the trucking industries problems, people gave up driving after covid-19

I ordered a part for my dishwasher, it took 3 months to get here. Yet I ordered a book in England, it was at my doorstep in 3 days. It is apparent the West Coast can't handle all the crap that comes in from Asia.


The Suez is in the Middle East it is not a route to us, US. it was never a factor here now or before.

[h2ebits]

7. Looks like the problem is throughout the US

Thanks for the information.

COVID-19 truly showed, and continues to show, how broken our distribution system throughout the United States has been for a long time.

So much has happened that the details of all of it escaped me--and are now resurfacing in my brain. A shortage of labor is making itself painfully clear in all industries. And you know that at least part of the labor shortage is due to the deaths of so many who are not around any longer to do the work.

It seems to me that your comment about involving the military to help is a good one. This would appear to be the time to put our military to good use by having them, not only help to get the container ships unloaded, but also to help distribute the goods away from the docks and across the US.

It would also be the time for MSM to switch from the constant 24/7 barrage of political crap to real news about genuine problems that are solvable by the collective United States people, if they were made aware of the problems.

[jmowreader]

8. Military cargo handlers don't know how to run the cranes

The vast majority of ocean freight is containerized so crane operators are essential.

[Historic NY]

9. Military Sealift command handles it all...

They have a dozen crane ships that can handle 300 containers. US Navy Cargo handlers. They have gantry operators,

[Ford_Prefect]

2. Ask Kyrsten Sinema and Joe Manchin about that??? Anyone home at the MSM???

Are they trying to crash the economy like Mitch is?

[IronLionZion]

3. There are browser extensions to disable autoplay videos

I use it sometimes when I browse CNN and other autoplay news sites. It gets weird on badly organized local news sites with lots of irrelevant videos.

[mahatmakanejeeves]

4. I'm on a work computer. The Man lets me know what I can install. NT

[ProfessorGAC]

10. So, The Analysts Missed By 142%

Looks like the need to retune their models.
A model worth a darn should never be this far off, COVID disruptions or not.
This is the 3rd prediction in 10 days shown to be wildly off.
They greatly overestimated new employment for August with an expected number that was over 0.2% of the ENTIRE US population. In one month! When 235,000 new jobs were added, there was wailing about failing to meet an impossibly high target.
They dramatically overestimated the change in the producer price index. When the index only rose modestly, not a word from them on how they missed by 100%.
Now this.
It looks to me like the analysts are tweaking models to provide bad news because they've already made up their minds as to what will happen.