The 2020 Mid-Year Economic Update_long

New Orders for Manufactured Goods Up 10.5% in July

New orders, shipments, unfilled orders and inventories increased in July.

New orders for manufactured goods, up five of the last six months, increased 10.5 percent in July to $558.3 billion, according to the U.S. Census Bureau reported today. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 1.5 percent June increase. Excluding transportation, new orders decreased 0.8 percent. 

Shipments, up five of the last six months, increased 1.2 percent to $507.4 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.8 percent June increase. 

Unfilled orders, up fifteen of the last sixteen months, increased 5.4 percent to $1,158.2 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 1.0 percent June increase.  The unfilled orders-to-shipments ratio was 6.64, up from 6.47 in June.

Inventories, up twenty of the last twenty-one months, increased 0.1 percent to $653.8 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.2 percent June increase.  The inventories-to-shipments ratio was 1.29, down from 1.30 in June.

New orders for manufactured durable goods in July, up five of the last six months, increased 22.6 percent to $300.2 billion, unchanged from the previously published increase.  This was at the highest level since the series was first published on a NAICS basis and followed a 2.7 percent June increase.  Transportation equipment, also up five of the last six months, drove the increase, 74.1 percent to $133.0 billion. 

New orders for manufactured nondurable goods decreased 0.9 percent to $258.1 billion.

By stage of fabrication, July materials and supplies increased 0.9 percent in durable goods and decreased 0.2 percent in nondurable goods.  Work in process increased 0.3 percent in durable goods and decreased 0.7 percent in nondurable goods.  Finished goods increased 0.3 percent in durable goods and decreased 0.4 percent in nondurable goods.

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