July Durable Goods Orders, Shipments Rise
In its latest report on manufacturers’ shipments, inventories and orders, the U.S. Census Bureau reported new orders for manufactured durable goods in July, up three consecutive months, increased $9.2 billion, or 4.1%, to $230.5 billion, revised from the previously published 4.2% increase. This followed a 1.6% June increase.
Transportation equipment, up five of the last six months, had the largest increase in new orders of $10.1 billion or 14.4% to $80.6 billion. Notable in this category was civilian aircraft with new orders of $19.6 billion, up 53.9% from $12.7 billion in June.
Shipments of manufactured durable goods in July, up four of the last five months, increased $5.7 billion, or 2.5%, to $230.7 billion, revised from the previously published 2.6% increase. This was at the highest level since the series was first published on a NAICS basis and followed a slight June decrease. Transportation equipment, also up four of the last five months, had the largest increase, $5.5 billion, or 8.6%, to $69.8 billion.
Year-to-date July durable goods shipments (not seasonally adjusted) were up 8.8% to $1,552.7 billion with gains in construction equipment, metalworking machinery, heavy-duty trucks and civilian aircraft of 31.1%, 22.2%, 26.8 and 25%, respectively.
To read the U.S. Census Bureau report, click here.