Research >> Economics
New orders for manufactured goods increased 2.3% in June 2023
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Summary
New orders for manufactured goods in June, up six of the last seven months, increased $13.4 billion or 2.3 percent to $592.0 billion, the U.S. Census Bureau reported today. This followed a 0.4 percent May increase. Shipments, up two consecutive months, increased $0.7 billion or 0.1 percent to $573.9 billion. This followed a 0.4 percent May increase. Unfilled orders, up six of the last seven months, increased $23.1 billion or 1.8 percent to $1,325.1 billion. This followed a 0.8 percent May increase. The unfilled orders-to-shipments ratio was 6.74, up from 6.64 in May. Inventories, down four of the last five months, decreased $0.3 billion or virtually unchanged to $853.1 billion. This followed a 0.2 percent May decrease. The inventories-to-shipments ratio was 1.49, unchanged from May.
New Orders
New orders for manufactured durable goods in June, up four consecutive months, increased $13.2 billion or 4.6 percent to $302.1 billion, down from the previously published 4.7 percent increase. This followed a 2.0 percent May increase. Transportation equipment, also up four consecutive months, led the increase, $12.3 billion or 12.0 percent to $115.2 billion. New orders for manufactured nondurable goods increased $0.2 billion or 0.1 percent to $290.0 billion.
Shipments
Shipments of manufactured durable goods in June, up three of the last four months, increased $0.5 billion or 0.2 percent to $284.0 billion, down from the previously published 0.3 percent increase. This followed a 2.0 percent May increase. Fabricated metal products, up four of the last five months, led the increase, $0.4 billion or 1.2 percent to $35.8 billion. Shipments of manufactured nondurable goods, up following four consecutive monthly decreases, increased $0.2 billion or 0.1 percent to $290.0 billion. This followed a 1.1 percent May decrease. Beverage and tobacco products, up seven of the last eight months, drove the increase, $0.4 billion or 2.5 percent to $17.9 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in June, up six of the last seven months, increased $23.1 billion or 1.8 percent to $1,325.1 billion, unchanged from the previously published increase. This followed a 0.8 percent May increase. Transportation equipment, also up six of the last seven months, led the increase, $23.0 billion or 2.9 percent to $826.9 billion.
Inventories
Inventories of manufactured durable goods in June, up six of the last seven months, increased $0.7 billion or 0.1 percent to $523.4 billion, unchanged from the previously published increase. This followed a 0.2 percent May increase. Machinery, up thirty-two consecutive months, led the increase, $0.4 billion or 0.4 percent to $94.9 billion. Inventories of manufactured nondurable goods, down seven of the last eight months, decreased $1.0 billion or 0.3 percent to $329.7 billion. This followed a 0.9 percent May decrease. Petroleum and coal products, also down seven of the last eight months, led the decrease, $0.4 billion or 0.8 percent to $44.0 billion. By stage of fabrication, June materials and supplies increased 0.2 percent in durable goods and decreased 0.2 percent in nondurable goods. Work in process decreased 0.2 percent in durable goods and was virtually unchanged in nondurable goods. Finished goods increased 0.4 percent in durable goods and decreased 0.5 percent in nondurable goods.
Posted: August 3, 2023 Thursday 10:00 AM