Manufactured goods orders rose 11.2% in July

Manufacturing

by Talk Business & Politics staff ([email protected]) August 26, 2020 10:37 am 242 views 

New orders for manufactured durable goods rose 11.2%, or by $23.2 billion, to $230.7 billion in July, from June, according to the U.S. Census Bureau.

The Census Bureau released Wednesday (Aug. 26) the July advance report on durable goods manufacturers’ shipments, inventories and orders.

New orders for manufactured durable goods have risen for three consecutive months, including a 7.7% increase in June. Excluding transportation, new orders rose 2.4%. Excluding defense, new orders increased by 9.9%. Transportation equipment has also risen for three consecutive months and contributed the most to the July increase, rising 35.6%, or by $19.6 billion, to $74.7 billion.

Shipments of manufactured durable goods have increased for three consecutive months and rose 7.3%, or by $16.6 billion, to $244 billion in July. The shipments rose 15.2% in June. Transportation equipment has also risen for three consecutive months and contributed the most to the July increase, rising 17.8%, or by $12.6 billion, to $83.2 billion.

Unfilled orders for manufactured durable goods have declined in four of the past five months and decreased 0.8%, or by $8.2 billion, to $1.08 trillion in July. Unfilled orders declined by 1.4% in June. Transportation equipment has been down for five consecutive months and contributed the most to the July decline, falling 1.1%, or by $8.4 billion, to $735.2 billion.

Inventories of manufactured durable goods have declined for two consecutive months and fell 0.5%, or by $1.9 billion, to $422.6 billion in July. The inventories fell 0.1% in June. Machinery, which has been down six of the past seven months, contributed the most to the July decline, falling 1%, or by $700 million, to $69.7 billion.

Nondefense new orders for capital goods rose 10.2%, or by $5.4 billion, to $58 billion in July. Shipments rose 2%, or by $1.3 billion, to $67.6 billion. Unfilled orders fell 1.6%, or by $9.5 billion, to $600.8 billion. Inventories rose 0.3%, or by $600 million, to $193.3 billion. Defense new orders for capital goods increased 30%, or by $3.2 billion, to $14 billion. Shipments rose 1.2%, or by $100 million, to $12.3 billion. Unfilled orders increased 1%, or by $1.7 billion, to $180 billion. Inventories rose 0.1%, or by less than $100 million, to $21.2 billion.