A recent report from the government shows that the value of shipments of nondefense capital goods, which include farm equipment, went up from November to December.
According to the U.S. Census Bureau, the value of the shipments of these goods went up 3.7 percent between the two months. However, new orders fell in value by 0.2 percent. Overall shipments for capital goods went up in value by 2.9 percent, while new orders dropped 0.5 percent.
Regarding all durable goods, new orders increased $500 million, which marks an increase of 0.3 percent from November to December. This is the first increase in new orders seen after two months of declines.
Shipments of durable goods increased as well and were up 2.9 percent. Shipments have been up for four consecutive months.
Though new orders and shipments for manufactured goods were up, a recent report from the Association of Equipment Manufacturers noted that sales of most forms of farm equipment will be down in 2010 following declines experienced in the year before. However, some types of tractors will see an increase in sales starting in 2011.
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