Research >> Economics
New orders for manufactured goods increased 6.4% in July 2020
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Summary
New orders for manufactured goods in July, up three consecutive months, increased $27.8 billion or 6.4 percent to $466.1 billion, the U.S. Census Bureau reported today. This followed a 6.4 percent June increase. Shipments, also up three consecutive months, increased $21.3 billion or 4.6 percent to $479.5 billion. This followed a 10.0 percent June increase. Unfilled orders, down four of the last five months, decreased $8.3 billion or 0.8 percent to $1,084.3 billion. This followed a 1.4 percent June decrease. The unfilled orders-to-shipments ratio was 6.70, down from 7.01 in June. Inventories, down following two consecutive monthly increases, decreased $3.1 billion or 0.5 percent to $687.2 billion. This followed a 0.5 percent June increase. The inventories-to-shipments ratio was 1.43, down from 1.51 in June.
New Orders
New orders for manufactured durable goods in July, up three consecutive months, increased $23.7 billion or 11.4 percent to $231.1 billion, up from the previously published 11.2 percent increase. This followed a 7.7 percent June increase. Transportation equipment, also up three consecutive months, led the increase, $19.6 billion or 35.7 percent to $74.7 billion. New orders for manufactured nondurable goods increased $4.2 billion or 1.8 percent to $235.0 billion.
Shipments
Shipments of manufactured durable goods in July, up three consecutive months, increased $17.1 billion or 7.5 percent to $244.6 billion, up from the previously published 7.3 percent increase. This followed a 15.2 percent June increase. Transportation equipment, also up three consecutive months, led the increase, $12.7 billion or 17.9 percent to $83.2 billion. Shipments of manufactured nondurable goods, up three consecutive months, increased $4.2 billion or 1.8 percent to $235.0 billion. This followed a 5.3 percent June increase. Petroleum and coal products, also up three consecutive months, led the increase, $2.3 billion or 6.5 percent to $38.3 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in July, down four of the last five months, decreased $8.3 billion or 0.8 percent to $1,084.3 billion, unchanged from the previously published decrease. This followed a 1.4 percent June decrease. Transportation equipment, down five consecutive months, drove the decrease, $8.5 billion or 1.1 percent to $735.0 billion.
Inventories
Inventories of manufactured durable goods in July, down two consecutive months, decreased $2.7 billion or 0.6 percent to $421.8 billion, down from the previously published 0.5 percent decrease. This followed a 0.1 percent June decrease. Fabricated metal products, also down two consecutive months, led the decrease, $0.9 billion or 1.6 percent to $51.7 billion. Inventories of manufactured nondurable goods, down following two consecutive monthly increases, decreased $0.5 billion or 0.2 percent to $265.4 billion. This followed a 1.4 percent June increase. Chemical products, down two of the last three months, led the decrease, $0.2 billion or 0.2 percent to $96.4 billion. By stage of fabrication, July materials and supplies decreased 0.8 percent in durable goods and increased 0.2 percent in nondurable goods. Work in process decreased 0.3 percent in durable goods and 0.4 percent in nondurable goods. Finished goods decreased 0.8 percent in durable goods and 0.3 percent in nondurable goods.
Posted: September 2, 2020 Wednesday 10:00 AM