Research >> Economics
July 2023 New Orders for Durable Goods decreased 5.2%, Ex-Trans up 0.5%
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New Orders
New orders for manufactured durable goods in July, down following four consecutive monthly increases, decreased $15.5 billion or 5.2 percent to $285.9 billion, the U.S. Census Bureau announced today. This followed a 4.4 percent June increase. Excluding transportation, new orders increased 0.5 percent. Excluding defense, new orders decreased 5.4 percent. Transportation equipment, also down following four consecutive monthly increases, drove the decrease, $16.4 billion or 14.3 percent to $98.7 billion.
Shipments
Shipments of manufactured durable goods in July, up four of the last five months, increased $0.1 billion or virtually unchanged to $283.6 billion. This followed a virtually unchanged June increase. Machinery, up six of the last seven months, drove the increase, $0.1 billion or 0.3 percent to $37.9 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in July, up seven of the last eight months, increased $7.3 billion or 0.5 percent to $1,332.2 billion. This followed a 1.8 percent June increase. Transportation equipment, also up seven of the last eight months, led the increase, $7.0 billion or 0.9 percent to $834.2 billion.
Inventories
Inventories of manufactured durable goods in July, down two consecutive months, decreased $0.2 billion or virtually unchanged to $522.2 billion. This followed a 0.1 percent June decrease. Transportation equipment, also down two consecutive months, drove the decrease, $0.3 billion or 0.2 percent to $163.7 billion.
Capital Goods
Nondefense new orders for capital goods in July decreased $16.6 billion or 15.6 percent to $89.8 billion. Shipments decreased $0.9 billion or 1.1 percent to $82.4 billion. Unfilled orders increased $7.5 billion or 1.0 percent to $779.1 billion. Inventories decreased $0.3 billion or 0.1 percent to $225.0 billion. Defense new orders for capital goods in July increased $0.3 billion or 2.5 percent to $12.3 billion. Shipments decreased $0.2 billion or 1.7 percent to $13.3 billion. Unfilled orders decreased $1.0 billion or 0.5 percent to $210.8 billion. Inventories decreased $0.1 billion or 0.3 percent to $24.2 billion.
Revised June Data
Revised seasonally adjusted June figures for all manufacturing industries were: new orders, $592.3 billion (revised from $592.0 billion); shipments, $574.4 billion (revised from $573.9 billion); unfilled orders, $1,324.9 billion (revised from $1,325.1 billion) and total inventories, $851.8 billion (revised from $853.1billion).
Posted: August 24, 2023 Thursday 08:30 AM