New orders for American-made goods rose substantially during May, according to figures released July 3 by the U.S. Commerce Department.
A government report showed that May orders increased 8.2% month-over-month to $642.0 billion, following a 3.9% decrease in April. The increase matched forecasts from economists polled by national media outlets, and was the sharpest increase since 2014.
source: tradingeconomics.com
Year-over-year, U.S. factory orders increased 3.2%.
Monthly shipments edged up 0.1% after a 0.3% April decrease and unfilled orders increased 3.4% after a flat April. Meanwhile, inventories increased 0.1% to $944.1 billion after a 0.1% April dip.
The May inventories-to-shipments ratio was 1.58, unchanged from April.
Within goods orders, orders for durable goods surged 16.4% month-to-month, following a 6.6% April decline. Transportation powered the monthly jump with a 48.3% increase, in which commercial aircraft orders skyrocketed 230.8%. Orders for motor vehicles, parts and trailers rose 0.8% month-to-month; orders for computers and electronic products increased 1.5; orders for electrical equipment, appliances and components improved 0.7%; and machinery orders rose 0.4%.
May orders for non-defense capital goods excluding aircraft increased 1.7% month-to-month.
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