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Monday, April 6, 2020

New manufacturing orders for ferrous metal foundries climb 4 percent in October


By Metric Media News Service | Mar 25, 2020


New orders for ferrous metal foundries increased $57 million, or 4 percent, to $1.47 billion in October, according to a U.S. Census Bureau report which was released in March.

The previous month saw new orders for the same products decrease by 8.8 percent.

The Census Bureau provides monthly broad-based data on current economic conditions as well as indicators of future production commitments in manufacturing. The statistics are a good indicator for future economic conditions.

Data is collected from approximately 3,100 companies representing manufacturers with $500 million or more in annual shipments. It is broken down into 89 industry categories of units that may be divisions of diversified companies, homogenous companies or single-unit manufacturers.

The statistics include the value of shipments as provided by manufacturers, new orders (net of cancellations), end-of-month order backlog/unfilled orders, end-of-month total inventory, materials and supplies, work in progress, and finished goods inventories at current market value or costs.

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