US Goods Orders Down as Transportation Equipment Slips

Source: US Census Bureau

New orders for US-made durable goods slipped in July after two consecutive months of increases, dragged mainly by transport equipment.

• New orders for manufactured goods fell by $0.4 billion or 0.1% to $257.2 billion, following the 0.8% climb in June.
• New orders increased by 0.7%, excluding transportation, which fell by 2.2% or $1.7 billion to $75.3 billion to mark its second straight month of decline.
• Excluding defense, new orders of manufactured goods fell by 1.2%.
• Shipments grew by 2.2% or $5.6 billion to $257.8 billion, led by transportation equipment which increased by 4.6% or $3.4 billion to $75.9 billion.
• Unfilled orders climbed for the sixth straight month, up 0.3% or $3.9 billion to $1.225 trillion. Machinery drove the growth, up 2.1% or $2.3 billion to $109.2 billion.
• Inventories also expanded for the sixth straight month to $453.6 billion. This was led by primary metals, which grew for the 12th straight month to $40 billion.
• Nondefense new orders jumped 8.0% or $7.0 billion to $80.6 billion, while defense orders for capital goods gained $2.1 billion or 20.5% to $12.5 billion.