The 2020 Mid-Year Economic Update_long

New Orders for Manufactured Goods Fall 0.5% in May

Shipments, unfilled orders, inventories at highest levels since series started using NAICS.

New orders for manufactured goods, down following three consecutive monthly increases, decreased 0.5 percent to $497.7 billion, according to the U.S. Census Bureau. This followed a 0.8 percent April increase. Excluding transportation, new orders decreased 0.1 percent.

Shipments, up four consecutive months, increased 0.1 percent to $498.3 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.4 percent April increase.

Unfilled orders, up 13 of the last 14 months, increased 0.6 percent to $1,087.4 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.9 percent April increase.

Inventories, up 18 of the last 19 months, increased 0.8 percent to $651.5 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.5 percent April increase.

New orders for manufactured durable goods in May, down following three consecutive monthly increases, decreased 0.9 percent to $238.3 billion, revised from the previously published 1 percent decrease. This followed a 0.9 percent April increase.

Transportation equipment, also down following three consecutive monthly increases, drove the decrease, 2.9 percent to $74.5 billion.

New orders for manufactured nondurable goods decreased 0.2 percent to $259.3 billion.

By stage of fabrication, May materials and supplies increased 0.8 percent in durable goods and 0.4 percent in nondurable goods. Work in process increased 1.4 percent in durable goods and 1 percent in nondurable goods. Finished goods increased 0.3 percent in durable goods and 0.5 percent in nondurable goods.

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