New orders of manufactured goods increased 2% in July

by Talk Business & Politics staff (staff2@talkbusiness.net) 46 views 

New orders for manufactured durable goods rose 2.1%, or by $5 billion, to $250.4 billion in July, according to the U.S. Census Bureau.

The Census Bureau announced Monday (Aug. 26) the advance report on manufacturers’ shipments, inventories and orders for July.

New orders for manufactured durable goods have risen for two consecutive months, including a 1.8% increase in June. Excluding transportation, new orders fell 0.4%. Excluding defense, new orders rose 1.4%. Transportation equipment orders increased 7%, or by $5.7 billion, to $86.3 billion and have also been up for two consecutive months and contributed to the rise in new orders.

Shipments of manufactured durable goods decreased 1.1%, or by $2.9 billion, to $254 billion in July, following two consecutive monthly increases, including a 1% increase in June. Transportation equipment shipments fell 2.1%, or by $1.8 billion, to $86.4 billion, and have declined for two consecutive months and contributed to the decline in shipments.

Unfilled orders for manufactured durable goods rose 0.1%, or by $700 million, to $1.16 trillion in July, following three consecutive monthly decreases, including a 0.6% decrease in June. Fabricated metal products rose 0.4%, or by $400 million, to $86.5 billion, and have increased for two consecutive months.

Inventories of manufactured durable goods rose 0.4%, or by $1.5 billion, to $427.3 billion in July, and have risen in 12 of the past 13 months. Transportation equipment inventories rose 1%, or by $1.4 billion, to $141.1 billion and have increased in 12 of the past 13 months.

Nondefense new orders for capital goods increased 5%, or by $3.6 billion, to $75.8 billion in July. Shipments declined 3%, or by $2.3 billion, to $74.4 billion. Unfilled orders rose 0.2%, or by $1.4 billion, to $693.6 billion. Inventories rose 0.7%, or by $1.4 billion, to $190.5 billion. Defense new orders for capital goods rose 14.4%, or by $1.5 billion, to $11.8 billion in July. Shipments declined 2.3%, or by $300 million, to $12.6 billion. Unfilled orders fell 0.5%, or by $800 million, to $155.9 billion. Inventories increased 1.3%, or by $300 million, to $24 billion.

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