The 2020 Mid-Year Economic Update_long

Advance Report: New Orders for Durable Goods Grew 15.8% in May

Durable Goods - US Census

New orders for manufactured durable goods in May increased $26.6 billion or 15.8% to $194.4 billion, according to the U.S. Census Bureau.

This increase in durable goods orders, up following two consecutive monthly decreases, followed an 18.1% April decrease. Excluding transportation, new orders increased 4%. Excluding defense, new orders increased 15.5%. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $20.9 billion or 80.7% to $46.9 billion.

Shipments
Shipments of manufactured durable goods in May, up following two consecutive monthly decreases, increased $8.4 billion or 4.4% to $198.5 billion. This followed an 18.6% April decrease. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $5.0 billion or 12.1% to $46.5 billion.

Unfilled Orders
Unfilled orders for manufactured durable goods in May, up following two consecutive monthly decreases, increased $0.8 billion or 0.1% to $1,108.6 billion. This followed a 1.5% April decrease. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $0.3 billion or virtually unchanged to $760.0 billion.

Inventories
Inventories of manufactured durable goods in May, up three consecutive months, increased $0.3 billion or 0.1% to $425.1 billion. This followed a virtually unchanged April increase. Transportation equipment, up twenty-two of the last twenty-three months, drove the increase, $1.3 billion or 0.9% to $144.1 billion.

Capital Goods
Nondefense new orders for capital goods in May increased $13.4 billion or 27.1% to $62.8 billion. Shipments increased $0.3 billion or 0.4% to $63.5 billion. Unfilled orders decreased $0.7 billion or 0.1% to $624.0 billion. Inventories increased $1.1 billion or 0.6% to $191.2 billion. Defense new orders for capital goods in May increased $2.2 billion or 19.9% to $13.3 billion. Shipments decreased less than $0.1 billion or 0.1% to $12.4 billion. Unfilled orders increased $0.9 billion or 0.5% to $180.0 billion. Inventories decreased $0.1 billion or 0.4% to $21.0 billion.

Revised April Data
Revised seasonally adjusted April figures for all manufacturing industries were: new orders, $382.5 billion (revised from $384.3 billion); shipments, $404.8 billion (revised from $406.8 billion); unfilled orders, $1,107.8 billion (revised from $1,107.6 billion) and total inventories, $685.8 billion (revised from $686.5 billion).

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