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New Orders for Manufactured Goods Up 0.7% in April

New orders for manufactured goods in April, up two of the last three months, increased $2.5 billion or 0.7% to $344.4 billion, the U.S. Census Bureau reported. This followed a 1.9% March decrease. Excluding transportation, new orders increased 0.1%.
 
Shipments, down nine consecutive months, decreased $0.8 billion or 0.2% to $357.3 billion. This was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992 and followed a 1.8% March decrease. Unfilled orders, down seven consecutive months, decreased $8.9 billion or 1.2% to $748.7 billion.
 
This was the longest streak of consecutive monthly decreases since November 2001-July 2002. This followed a 1.7% March decrease. The unfilled orders-to-shipments ratio was 6.01, up from 5.98 in March. Inventories, down eight consecutive months, decreased $5.1 billion or 1.0% to $517.6 billion. This was the longest streak of consecutive monthly decreases since March 2003-January 2004 and followed a 1.2% March decrease. The inventories-to-shipments ratio was 1.45, down from 1.46 in March.
 
New Orders
New orders for manufactured durable goods in April, up two of the last three months, increased $2.7 billion or 1.7% to $160.9 billion, revised from the previously published 1.9% increase. This followed a 2.2% March decrease. New orders for manufactured nondurable goods decreased $0.2 billion or 0.1% to $183.5 billion.
 
Shipments
Shipments of manufactured durable goods in April, down nine consecutive months, decreased $0.6 billion or 0.4% to $173.8 billion, revised from the previously published 0.2% decrease. This also was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992 and followed a 1.9% March decrease.
 
Shipments of manufactured nondurable goods, down eight of the last nine months, decreased $0.2 billion or 0.1% to $183.5 billion. This followed a 1.6% March decrease. This decrease was due to chemical products, which decreased $0.4 billion or 0.8% to $49.8 billion.
 
Unfilled Orders
Unfilled orders for manufactured durable goods in April, down seven consecutive months, decreased $8.9 billion or 1.2% to $748.7 billion, unchanged from the previously published decrease. This followed a 1.7% March decrease.
 
Inventories
Inventories of manufactured durable goods in April, down four consecutive months, decreased $3.0 billion or 0.9% to $326.5 billion, revised from the previously published 0.8% decrease. This followed a 1.7% March decrease.
 
Inventories of manufactured nondurable goods, down eight consecutive months, decreased $2.1 billion or 1.1% to $191.1 billion. This followed a 0.3% March decrease. Chemical products led the decrease, down $0.9 billion or 1.4% to $64.5 billion.
 
By stage of fabrication, April materials and supplies decreased 1.6% in durable goods and 1.5% in nondurable goods. Work in process decreased slightly in durable goods and increased 0.3% in nondurable goods. Finished goods decreased 1.3% in durable goods and 1.3% in nondurable goods.

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