Research >> Economics
New orders for manufactured goods decreased 2.1% in July 2023
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Summary
New orders for manufactured goods in July, down following four consecutive monthly increases, decreased $12.7 billion or 2.1 percent to $579.4 billion, the U.S. Census Bureau reported today. This followed a 2.3 percent June increase. Shipments, up three consecutive months, increased $2.9 billion or 0.5 percent to $577.2 billion. This followed a 0.2 percent June increase. Unfilled orders, up seven of the last eight months, increased $7.2 billion or 0.5 percent to $1,332.0 billion. This followed a 1.8 percent June increase. The unfilled orders-to-shipments ratio was 6.80, up from 6.74 in June. Inventories, up following two consecutive monthly decreases, increased $0.6 billion or 0.1 percent to $852.5 billion. This followed a 0.2 percent June decrease. The inventories-to-shipments ratio was 1.48, unchanged from June.
New Orders
New orders for manufactured durable goods in July, down following four consecutive monthly increases, decreased $15.7 billion or 5.2 percent to $285.5 billion, unchanged from the previously published decrease. This followed a 4.3 percent June increase. Transportation equipment, also down following four consecutive monthly increases, drove the decrease, $16.5 billion or 14.3 percent to $98.6 billion. New orders for manufactured nondurable goods increased $3.1 billion or 1.1 percent to $293.9 billion.
Shipments
Shipments of manufactured durable goods in July, down following two consecutive monthly increases, decreased $0.2 billion or 0.1 percent to $283.3 billion, down from the previously published virtually unchanged increase. This followed a virtually unchanged June increase. Transportation equipment, down three of the last four months, drove the decrease, $0.3 billion or 0.3 percent to $91.6 billion. Shipments of manufactured nondurable goods, up two consecutive months, increased $3.1 billion or 1.1 percent to $293.9 billion. This followed a 0.4 percent June increase. Petroleum and coal products, also up two consecutive months, led the increase, $2.8 billion or 4.6 percent to $64.6 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in July, up seven of the last eight months, increased $7.2 billion or 0.5 percent to $1,332.0 billion, unchanged from the previously published increase. This followed a 1.8 percent June increase. Transportation equipment, also up seven of the last eight months, led the increase, $7.0 billion or 0.8 percent to $834.1 billion.
Inventories
Inventories of manufactured durable goods in July, down two consecutive months, decreased $0.3 billion or virtually unchanged to $522.2 billion, unchanged from the previously published decrease. This followed a virtually unchanged June decrease. Transportation equipment, also down two consecutive months, led the decrease, $0.2 billion or 0.2 percent to $163.8 billion. Inventories of manufactured nondurable goods, up following five consecutive monthly decreases, increased $0.9 billion or 0.3 percent to $330.3 billion. This followed a 0.4 percent June decrease. Petroleum and coal products, also up following five consecutive monthly decreases, drove the increase, $1.8 billion or 4.1 percent to $46.0 billion. By stage of fabrication, July materials and supplies increased 0.1 percent in both durable and nondurable goods. Work in process decreased 0.1 percent in durable goods and increased 1.4 percent in nondurable goods. Finished goods decreased 0.2 percent in durable goods and 0.1 percent in nondurable goods.
Posted: September 5, 2023 Tuesday 10:00 AM