The 2020 Mid-Year Economic Update_long

New Orders for Manufactured Goods Up 1.1% in March

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

New orders for manufactured goods in March, up two consecutive months, increased $5.3 billion or 1.1 percent to $493.9 billion, the U.S. Census Bureau reported. This followed a 1.5 percent February increase. Excluding transportation, new orders increased 0.6 percent.

Shipments, also up two consecutive months, increased $1.4 billion or 0.3 percent to $494.9 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.9 percent February increase.

Unfilled orders, up 13 of the last 14 months, increased $6.9 billion or 0.6 percent to $1,069.3 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.3 percent February increase.

Inventories, up 15 of the last 16 months, increased $0.6 billion or 0.1 percent to $643.1 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.7 percent February increase.

New orders for manufactured durable goods in March, up two consecutive months, increased $6.7 billion or 2.9 percent to $236 billion, revised from the previously published 2.6 percent increase. This followed a 2.3 percent February increase.

Transportation equipment, also up two consecutive months, led the increase, up $2.9 billion or 4 percent to $74.2 billion.

New orders for manufactured nondurable goods decreased $1.4 billion or 0.6 percent to $257.9 billion.

By stage of fabrication, March materials and supplies increased 0.4 percent in durable goods and decreased 1.2 percent in nondurable goods. Work in process increased 0.2 percent in durable goods and 0.9 percent in nondurable goods. Finished goods increased 0.4 percent in durable goods and decreased 0.1 percent in nondurable goods.

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