New Orders for U.S. Manufactured Goods Rise 2.4 Percent in July
Inventories reach highest levels since 1992; transportation equipment rises 1.5 percent.
New orders for manufactured goods in July, up two of the last three months, increased $10.5 billion or 2.4 percent to $453.2 billion, the U.S. Census Bureau reported today. This followed a 0.4 percent June decrease. Excluding transportation, new orders increased 0.9 percent. Shipments, up two consecutive months, increased $7.1 billion or 1.6 percent to $453.2 billion. This followed a 0.6 percent June increase.
Unfilled orders, up fifteen of the last sixteen months, increased $6.9 billion or 0.8 percent to $870.4 billion. This followed a 0.3 percent June increase. The unfilled orders-to-shipments ratio was 6.02, down from 6.05 in June.
Inventories, up twenty one of the last twenty two months, increased $2.9 billion or 0.5 percent to $598.0 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.4 percent June increase. The inventories-to-shipments ratio was 1.32, down from 1.33 in June.
New Orders
New orders for manufactured durable goods in July, up two of the last three months, increased $8.0 billion or 4.1 percent to $201.9 billion, revised from the previously published 4.0 percent increase. This followed a 1.1 percent June decrease. Transportation equipment, also up two of the last three months, had the largest increase, $6.8 billion or 14.8 percent to $53.2 billion. New orders for manufactured nondurable goods increased $2.5 billion or 1.0 percent to $251.2 billion.
Shipments
Shipments of manufactured durable goods in July, up seven of the last eight months, increased $4.7 billion or 2.4 percent to $201.9 billion, revised from the previously published 2.5 percent increase. This followed a 1.1 percent June increase. Transportation equipment, up two consecutive months, had the largest increase, $3.7 billion or 8.0 percent to$49.8 billion. Shipments of manufactured nondurable goods, up twelve of the last thirteen months, increased $2.5 billion or 1.0 percent to $251.2 billion. This followed a 0.2 percent June increase. Petroleum and coal products, up following three consecutive monthly decreases, drove the increase, up $2.6 billion or 3.8 percent to $71.8 billion.
Unfilled Orders. Unfilled orders for manufactured durable goods in July, up fifteen of the last sixteen months, increased $6.9 billion or 0.8 percent to $870.4 billion, revised from the previously published 0.7 percent increase. This followed a 0.3 percent June increase. Transportation equipment, up seven consecutive months, had the largest increase, $3.4 billion or 0.7 percent to $501.0 billion.
Inventories
Inventories of manufactured durable goods in July, up nineteen consecutive months, increased $3.1 billion or 0.9 percent to $361.4 billion, revised from the previously published 0.8 percent increase. This was at the highest level since the series was first published on a NAICS basis and followed a 0.6 percent June increase.
Transportation equipment, also up nineteen consecutive months, had the largest increase, $1.7 billion or 1.5 percent to $110.8 billion.
Inventories of manufactured nondurable goods, down three consecutive months, decreased $0.2 billion or 0.1 percent to $236.7 billion. This followed a slight June decrease.
Petroleum and coal products, also down three consecutive months, drove the decrease, down $0.8 billion or 1.5 percent to $51.6 billion.
By stage of fabrication, July materials and supplies increased 0.6 percent in durable goods and decreased 0.4 percent in nondurable goods. Work in process increased 1.2 percent in durable goods and decreased 0.8 percent in nondurable goods.
Finished goods increased 0.8 percent in durable goods and 0.4 percent in nondurable goods.
