Research >> Economics
New orders for manufactured goods increased 0.7% in August 2020
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Summary
New orders for manufactured goods in August, up four consecutive months, increased $3.2 billion or 0.7 percent to $470.1 billion, the U.S. Census Bureau reported today. This followed a 6.5 percent July increase. Shipments, also up four consecutive months, increased $1.4 billion or 0.3 percent to $481.3 billion. This followed a 4.7 percent July increase. Unfilled orders, down five of the last six months, decreased $6.2 billion or 0.6 percent to $1,078.6 billion. This followed a 0.7 percent July decrease. The unfilled orders-to-shipments ratio was 6.60, down from 6.69 in July. Inventories, up three of the last four months, increased $0.2 billion or virtually unchanged to $686.6 billion. This followed a 0.6 percent July decrease. The inventories-to-shipments ratio was 1.43, unchanged from July.
New Orders
New orders for manufactured durable goods in August, up four consecutive months, increased $1.3 billion or 0.5 percent to $233.2 billion, up from the previously published 0.4 percent increase. This followed an 11.8 percent July increase. Machinery, also up four consecutive months, led the increase, $0.5 billion or 1.5 percent to $31.2 billion. New orders for manufactured nondurable goods increased $1.9 billion or 0.8 percent to $236.9 billion.
Shipments
Shipments of manufactured durable goods in August, down following three consecutive monthly increases, decreased $0.5 billion or 0.2 percent to $244.3 billion, up from the previously published 0.3 percent decrease. This followed a 7.6 percent July increase. Transportation equipment, also down following three consecutive monthly increases, drove the decrease, $1.4 billion or 1.7 percent to $81.6 billion. Shipments of manufactured nondurable goods, up four consecutive months, increased $1.9 billion or 0.8 percent to $236.9 billion. This followed a 1.8 percent July increase. Petroleum and coal products, also up four consecutive months, led the increase, $1.6 billion or 4.2 percent to $39.6 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in August, down five of the last six months, decreased $6.2 billion or 0.6 percent to $1,078.6 billion, unchanged from the previously published decrease. This followed a 0.7 percent July decrease. Transportation equipment, down six consecutive months, drove the decrease, $6.8 billion or 0.9 percent to $728.1 billion.
Inventories
Inventories of manufactured durable goods in August, down three consecutive months, decreased $0.6 billion or 0.1 percent to $420.4 billion, unchanged from the previously published decrease. This followed a 0.8 percent July decrease. Machinery, down seven of the last eight months, led the decrease, $0.4 billion or 0.6 percent to $69.1 billion. Inventories of manufactured nondurable goods, up three of the last four months, increased $0.8 billion or 0.3 percent to $266.2 billion. This followed a 0.2 percent July decrease. Chemical products, up two of the last three months, led the increase, $0.5 billion or 0.5 percent to $96.9 billion. By stage of fabrication, August materials and supplies decreased 0.4 percent in durable goods and were virtually unchanged in nondurable goods. Work in process increased 0.4 percent in durable goods and 0.3 percent in nondurable goods. Finished goods decreased 0.6 percent in durable goods and increased 0.5 percent in nondurable goods.
Posted: October 2, 2020 Friday 10:00 AM