Research >> Economics
New orders for manufactured goods increased 1.2% in August 2023
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Summary
New orders for manufactured goods in August, up five of the last six months, increased $6.7 billion or 1.2 percent to $586.1 billion, the U.S. Census Bureau reported today. This followed a 2.1 percent July decrease. Shipments, up four consecutive months, increased $7.7 billion or 1.3 percent to $586.0 billion. This followed a 0.7 percent July increase. Unfilled orders, up eight of the last nine months, increased $5.0 billion or 0.4 percent to $1,335.9 billion. This followed a 0.5 percent July increase. The unfilled orders-to-shipments ratio was 6.78, down from 6.80 in July. Inventories, up two consecutive months, increased $2.8 billion or 0.3 percent to $855.4 billion. This followed a 0.1 percent July increase. The inventories-to-shipments ratio was 1.46, down from 1.47 in July
New Orders
New orders for manufactured durable goods in August, up five of the last six months, increased $0.4 billion or 0.1 percent to $284.7 billion, down from the previously published 0.2 percent increase. This followed a 5.6 percent July decrease. Fabricated metal products, up six of the last seven months, led the increase, $0.2 billion or 0.6 percent to $36.0 billion. New orders for manufactured nondurable goods increased $6.3 billion or 2.1 percent to $301.4 billion.
Shipments
Shipments of manufactured durable goods in August, up three of the last four months, increased $1.5 billion or 0.5 percent to $284.6 billion, unchanged from the previously published increase. This followed a 0.1 percent July decrease. Transportation equipment, up following two consecutive monthly decreases, led the increase, $0.8 billion or 0.9 percent to $92.5 billion. Shipments of manufactured nondurable goods, up three consecutive months, increased $6.3 billion or 2.1 percent to $301.4 billion. This followed a 1.5 percent July increase. Petroleum and coal products, also up three consecutive months, led the increase, $5.8 billion or 8.8 percent to $71.5 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in August, up eight of the last nine months, increased $5.0 billion or 0.4 percent to $1,335.9 billion, unchanged from the previously published increase. This followed a 0.5 percent July increase. Transportation equipment, also up eight of the last nine months, drove the increase, $5.3 billion or 0.6 percent to $838.7 billion.
Inventories
Inventories of manufactured durable goods in August, up following two consecutive monthly decreases, increased $1.1 billion or 0.2 percent to $523.4 billion, unchanged from the previously published increase. This followed a virtually unchanged July decrease. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $0.4 billion or 0.2 percent to $164.4 billion. Inventories of manufactured nondurable goods, up two consecutive months, increased $1.7 billion or 0.5 percent to 332.0 billion. This followed a 0.3 percent July increase. Petroleum and coal products, also up two consecutive months, drove the increase, $2.2 billion or 4.8 percent to $48.5 billion. By stage of fabrication, August materials and supplies decreased 0.2 percent in durable goods and increased 0.3 percent in nondurable goods. Work in process increased 0.4 percent in durable goods and 2.6 percent in nondurable goods. Finished goods increased 0.5 percent in durable goods and decreased 0.2 percent in nondurable goods.
Posted: October 4, 2023 Wednesday 10:00 AM