The 2020 Mid-Year Economic Update_long

Advance Report: New Orders for Durable Goods Grew 7.3% in June

Increase of manufactured durable goods is second in a row following the double-digit growth in May, which had been preceded by two decreases during the height of the coronavirus crisis.
Durable Goods June

New orders for manufactured durable goods in June increased $14 billion or 7.3% to $206.9 billion, according to the U.S. Census Bureau.

This increase, up two consecutive months, followed a 15.1% May increase. Excluding transportation, new orders increased 3.3%. Excluding defense, new orders increased 9.2%. Transportation equipment, also up two consecutive months, led the increase, $9.2 billion or 20% to $55.3 billion.

Shipments
Shipments of manufactured durable goods in June, up two consecutive months, increased $29.4 billion or 14.9% to $227.1 billion. This followed a 4.2% May increase. Transportation equipment, also up two consecutive months, led the increase, $24.2 billion or 51.9% to $70.9 billion.

Unfilled Orders
Unfilled orders for manufactured durable goods in June, down three of the last four months, decreased $15.4 billion or 1.4% to $1,092.4 billion. This followed a virtually unchanged May increase. Transportation equipment, down four consecutive months, drove the decrease, $15.6 billion or 2.1% to $743.5 billion.

Inventories
Inventories of manufactured durable goods in June, up four consecutive months, increased $0.4 billion or 0.1% to $425.3 billion. This followed a virtually unchanged May increase. Transportation equipment, up twenty-three of the last twenty-four months, drove the increase, $2.2 billion or 1.5% to $146.5 billion.

Capital Goods
Nondefense new orders for capital goods in June decreased $10.3 billion or 16.4% to $52.2 billion. Shipments increased $2.8 billion or 4.4% to $66.1 billion. Unfilled orders decreased $13.9 billion or 2.2% to $610 billion. Inventories increased $1.4 billion or 0.7% to $193 billion. Defense new orders for capital goods in June decreased $2.2 billion or 16.8% to $10.8 billion. Shipments decreased $0.1 billion or 0.8% to $12.3 billion. Unfilled orders decreased $1.5 billion or 0.8% to $178.2 billion. Inventories increased $0.2 billion or 1.1% to $21.3 billion.

Revised May Data
Revised seasonally adjusted May figures for all manufacturing industries were: new orders, $411.9 billion (revised from $412.8 billion); shipments, $416.8 billion (revised from $417 billion); unfilled orders, $1,107.8 billion (revised from $1,108.5 billion) and total inventories, $687.1 billion (revised from $687 billion).

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