Durable Goods Orders Rise on Transportation Equipment
In its latest report on manufacturers’ shipments, inventories and orders, the U.S. Census Bureau said new orders for manufactured durable goods in June increased $9.9 billion or 4.2% to $244.5 billion.
This increase, up four of the last five months, followed a 5.2% May increase and was at the highest level since the series was first published on a North American Industry Classification System basis in 1992.
Excluding transportation, new orders increased slightly. Excluding defense, new orders increased 3%. Transportation equipment, also up four of the last five months, led the increase, $9.9 billion or 12.8% to $87.1 billion. This was led by nondefense aircraft and parts, which increased $6.5 billion.
Shipments of manufactured durable goods in June, down two of the last three months, decreased slightly to $229.8 billion. This followed a 1.3% May increase. Machinery, also down two of the last three months, drove the decrease, $0.4 billion or 1.2% to $34.2 billion. This followed a 1.1% May increase.
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