Despite the drop, total industrial production rose 4.3% at an annual rate for 3Q, the 5th consecutive quarter with a gain of at least 4%.
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The Census Bureau says the combined value of distributive trade sales and shipments and inventories for August was down 0.1% from July.
Year-to-date total reaches $3.55 billion, the highest through 8 months since 1998, according to the Manufacturing Technology Orders report.
Wholesale trade slowed in August, but it was still ahead of revised 2020 levels for the same period, according to the U.S. Census Bureau.
The seasonally adjusted Fastener Distributor Index (FDI) for September was 54.2, down from 55.8 in June, due to recent challenges.
The Census Bureau and the Bureau of Economic Analysis said the goods and services deficit was $73.3 billion.
The U.S. Census Bureau has released advance indicators showing that the international trade deficit and wholesale inventories increased in August.
The increase in real GDP reflected increases in personal consumption expenditures, nonresidential fixed investment, exports, and state and local government spending.
The increase, up 15 of the last 16 months, followed a 0.5% July increase.
Latest Chicago Fed National Activity Index (CFNAI) shows that all four broad categories of indicators used to construct the index made positive contributions in August, but three categories declined from July.
And housing starts are up compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
According to the Industrial Production and Capacity Utilization Report, industrial production increased just 0.4% during the month due to weather-related disruptions.
But new orders placed in July marked a 5.6% decrease from the previous month of June, according to the most recent U.S. Manufacturing Technology Orders report.
Wholesale trade shows improvement from same month in 2020 and was also up from the previous month of June, according to the latest report from the U.S. Census Bureau.
U.S. Census Bureau’s final report on new orders for manufactured goods shows improvement for 14 of the last 15 months.
Year-over-year, the goods and services deficit decreased $3.2 billion, or 4.3%, from June.
A surge in COVID-19 cases means the pandemic is far from over, but the latest round of economic reports is further proof that the recovery also shows no sign of slowing.
The U.S. Census Bureau has released advance indicators showing that the international trade deficit declined while wholesale inventories increased in July.
Current dollar GDP increased 13.2% at an annual rate, or $693.2 billion, in the second quarter to a level of $22.7 trillion.
The decrease, down following two consecutive monthly increases, followed a 0.8% June increase.
