New orders for manufactured goods made in the US edged up 0.1 percent from a month earlier in December 2018, following a downwardly revised 0.5 percent drop in November and missing market expectations of a 0.5 percent rise. Transportation equipment orders grew the most (3.2 percent vs 3.1 percent), followed by furniture and related products (3.4 percent vs -1.7 percent), fabricated metal products (0.4 percent vs 1.8 percent) and computers and electronic products (0.1 percent, the same as in November). Meanwhile, demand declined for non-durable goods (-1 percent vs -2 percent); machinery (-1 percent vs -2 percent) and electrical equipment, appliances, and components (-0.3 percent vs -2.6 percent). Factory Orders in the United States averaged 0.28 percent from 1991 until 2018, reaching an all time high of 10.60 percent in July of 2014 and a record low of -10 percent in August of 2014.
Factory Orders in the United States is expected to be -0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Factory Orders in the United States to stand at 1.50 in 12 months time. In the long-term, the United States Factory Orders is projected to trend around 2.60 percent in 2020, according to our econometric models.