U.S. monthly manufactured durable goods orders declined $8.8 billion or 2.8% in July from June, according to an advance report form the U.S. Census Bureau.
Released Aug. 26, the report showed that July orders decreased to $302.8 billion. This followed a 9.4% decrease in June, preceded by a May increase of 16.5%.
Economists polled by various news outlets had expected a 4.0% decline.
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The July decline was driven by transportation equipment, which decreased by 9.7% vs. June, impacted by a decline of 32.7% in nondefense aircraft and parts. June saw a similar slump in nondefense aircraft and parts (-51.8%).
Excluding transportation, new orders increased 1.1% compared to June. Excluding defense, new orders decreased 2.5%.
Capital goods decreased 8.8% month-over-month, with nondefense capital goods orders down 8.7%.
Shipments of manufactured goods — up eight consecutive months — increased 1.4% to $307.5 billion month-over-month. This followed a June increase of 0.5%.
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Unfilled orders for durable goods in July — up 12 of the last 13 months — increased $0.4 billion to $1.46 billion or remained virtually unchanged month-over-month. This followed a June increase of 1.0%.
July inventories for durable goods — up 10 consecutive months — increased 0.3% to $590.8 billion month-over-month. This followed a 0.2% increase in June.
U.S. July Durable Goods Orders
source: tradingeconomics.com
The Bureau will release its report for August durable goods orders on Sept. 25.
Here is how monthly new orders and shipments of different durable goods product categories in July, seasonally adjusted, according to the Census Bureau’s advance date:
Primary Metals
- Shipments: +1.2%
- New Orders: +1.5%
Fabricated Metal Products
- Shipments: +1.6%
- New Orders: +0.7%
Machinery
- Shipments: +1.4%
- New Orders: +1.8%
Computers and Electronic Products
- Shipments: +4.5%
- New Orders: +3.5%
Electrical Equipment, Appliances and Components
- Shipments: +1.4%
- New Orders: +2.0%
Transportation Equipment
- Shipments: +2.3%
- New Orders: -9.7%
All Other Durable Goods
- Shipments: +0.4%
- New Orders: +0.5%
Capital Goods
- Shipments: +2.8%
- New Orders: -8.8%
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