The 2020 Mid-Year Economic Update_long

Advance Report: New Orders for Durable Goods Up 0.4% in August

Increase of manufactured durable goods is fourth in a row following the double-digit growth in May, high-single-digit growth in June and double-digit growth in July, which had been preceded by two decreases during the height of the coronavirus crisis.
durable goods

New orders for manufactured durable goods in August increased $1 billion or 0.4% to $230.7 billion, according to the U.S. Census Bureau.

This increase, up four consecutive months, followed an 11.7% July increase. Excluding transportation, new orders increased 0.4%. Excluding defense, new orders increased 0.7%. Machinery, also up four consecutive months, led the increase, $0.5 billion or 1.5% to $31.2 billion.

Shipments

Shipments of manufactured durable goods in August, down following three consecutive monthly increases, decreased $0.7 billion or 0.3% to $244.1 billion. This followed a 7.6% July increase. Transportation equipment, also down following three consecutive monthly increases, drove the decrease, $1.4 billion or 1.7% to $81.6 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in August, down five of the last six months, decreased $6.3 billion or 0.6% to $1,078.4 billion. This followed a 0.7% July decrease. Transportation equipment, down six consecutive months, drove the decrease, $6.9 billion or 0.9% to $728.0 billion.

Inventories

Inventories of manufactured durable goods in August, down three consecutive months, decreased $0.5 billion or 0.1% to $420.5 billion. This followed a 0.8% July decrease. Machinery, down seven of the last eight months, led the decrease, $0.4 billion or 0.6% to $69.1 billion.

Capital Goods

Nondefense new orders for capital goods in August increased $4.6 billion or 7.8% to $62.9 billion. Shipments increased $2.2 billion or 3.3% to $70.1 billion. Unfilled orders decreased $7.1 billion or 1.2% to $593.7 billion. Inventories increased $0.1 billion or 0.1% to $193.0 billion. Defense new orders for capital goods in August decreased $0.5 billion or 3.3% to $13.7 billion. Shipments decreased less than $0.1 billion or 0.4% to $12.2 billion. Unfilled orders increased $1.5 billion or 0.8% to $181.6 billion. Inventories increased $0.1 billion or 0.5% to $21.2 billion.

Revised July Data

Revised seasonally adjusted July figures for all manufacturing industries were: new orders, $466.7 billion (revised from $466.1 billion); shipments, $479.7 billion (revised from $479.5 billion); unfilled orders, $1,084.8 billion (revised from $1,084.3 billion) and total inventories, $686.4 billion (revised from $687.2 billion).

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