Research >> Economics
New orders for manufactured goods increased 6.2% in June 2020
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Summary
New orders for manufactured goods in June, up two consecutive months, increased $25.5 billion or 6.2 percent to $437.2 billion, the U.S. Census Bureau reported today. This followed a 7.7 percent May increase. Shipments, also up two consecutive months, increased $40.7 billion or 9.8 percent to $457.3 billion. This followed a 3.0 percent May increase. Unfilled orders, down three of the last four months, decreased $15.3 billion or 1.4 percent to $1,092.5 billion. This followed a virtually unchanged May increase. The unfilled orders-to-shipments ratio was 7.01, down from 7.56 in May. Inventories, up two consecutive months, increased $4.0 billion or 0.6 percent to $690.9 billion. This followed a 0.2 percent May increase. The inventories-to-shipments ratio was 1.51, down from 1.65 in May.
New Orders
New orders for manufactured durable goods in June, up two consecutive months, increased $14.6 billion or 7.6 percent to $207.2 billion, up from the previously published 7.3 percent increase. This followed a 15.0 percent May increase. Transportation equipment, also up two consecutive months, led the increase, $9.3 billion or 20.2 percent to $55.4 billion. New orders for manufactured nondurable goods increased $10.9 billion or 5.0 percent to $230.0 billion.
Shipments
Shipments of manufactured durable goods in June, up two consecutive months, increased $29.8 billion or 15.1 percent to $227.3 billion, up from the previously published 14.9 percent increase. This followed a 4.1 percent May increase. Transportation equipment, also up two consecutive months, led the increase, $24.3 billion or 52.1 percent to $70.9 billion. Shipments of manufactured nondurable goods, up two consecutive months, increased $10.9 billion or 5.0 percent to $230.0 billion. This followed a 2.0 percent May increase. Petroleum and coal products, also up two consecutive months, led the increase, $7.6 billion or 27.0 percent to $35.9 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in June, down three of the last four months, decreased $15.3 billion or 1.4 percent to $1,092.5 billion, unchanged from the previously published decrease. This followed a virtually unchanged May increase. Transportation equipment, down four consecutive months, drove the decrease, $15.6 billion or 2.1 percent to $743.5 billion.
Inventories
Inventories of manufactured durable goods in June, up four consecutive months, increased $0.2 billion or virtually unchanged to $425.0 billion, down from the previously published 0.1 percent increase. This followed a virtually unchanged May increase. Transportation equipment, up twenty-three of the last twenty-four months, drove the increase, $2.1 billion or 1.5 percent to $146.5 billion. Inventories of manufactured nondurable goods, up two consecutive months, increased $3.8 billion or 1.5 percent to $265.9 billion. This followed a 0.4 percent May increase. Petroleum and coal products, also up two consecutive months, led the increase, $3.2 billion or 11.0 percent to $32.1 billion. By stage of fabrication, June materials and supplies decreased 1.2 percent in durable goods and increased 1.9 percent in nondurable goods. Work in process increased 1.2 percent in durable goods and 2.3 percent in nondurable goods. Finished goods increased 0.1 percent in durable goods and 0.9 percent in nondurable goods.
Posted: August 4, 2020 Tuesday 10:00 AM