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Value of farm equipment shipped falls, construction machinery up

Friday, December 4, 2009

The total value for farm equipiment shipped saw a recent drop.
The total value for farm equipiment shipped saw a recent drop.

Recent numbers from the U.S. Census Bureau show that the value of farm equipment shipments dropped in October.

According to the Census, the value of farm equipment shipped dropped 2.5 percent from September to October on a seasonally-adjusted basis. In September, the total value of farm equipment shipped came to $2.18 billion, compared to $2.13 billion in October.

Though the value of farm equipment shipped dropped in October, construction machinery saw a slight increase for the month. The value of construction equipment shipped increased 0.7 percent from September to October. In all for October, construction machinery amounted to $1.36 billion.

Overall, the value of shipments for all manufactured goods increased 0.8 percent to $368 billion in October. New orders for manufactured goods increased $2.1 billion to reach $360.5 billion, which followed a 1.6 percent increase in September. New orders, according to the Census Bureau, have been up in six of the last seven months.

The news on shipment values follows a recent report from the Institute for Supply Management that indicated that the manufacturing sector continues to see growth. For November, the institute's index monitoring growth came in at 53.6 percent.
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