The 2020 Mid-Year Economic Update_long

New Orders for Durable Goods Up 4.2% in July

Advance report: Excluding transportation, new orders decreased 0.4 percent.

New orders for manufactured durable goods in July increased $9.4 billion or 4.2 percent to $230.7 billion, the U.S. Census Bureau announced in its Advance Report. This increase, up three consecutive months, followed a 1.6 percent June increase.

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Excluding transportation, new orders decreased 0.4 percent. Excluding defense, new orders increased 5.7 percent. Transportation equipment, up five of the last six months, had the largest increase, $9.9 billion or 14.1 percent to $80.4 billion.

Shipments of manufactured durable goods in July, up seven of the last eight months, increased $5.9 billion or 2.6 percent to $231.1 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a slight June increase.

Transportation equipment, up four of the last five months, had the largest increase, $5.4 billion or 8.4 percent to $69.7 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 decrease.

Unfilled orders for manufactured durable goods in July, up two consecutive months, increased $7.8 billion or 0.8 percent to $996.3 billion. This followed a 0.4 percent June increase. Transportation equipment, also up two consecutive months, had the largest increase, $10.7 billion or 1.9 percent to $581 billion.

Inventories of manufactured durable goods in July, up thirty of the last thirty-one months, increased $2.7 billion or 0.7 percent to $369.3 billion. This was at the highest level since the series was first published on a NAICS basis and followed a 0.3 percent June increase.

Transportation equipment, also up thirty of the last thirty-one months, had the largest increase, $1.4 billion or 1.3 percent to $110.5 billion. This was also at the highest level since the series was first published on a NAICS basis.

Nondefense new orders for capital goods in July increased $4.9 billion or 6.8 percent to $77.7 billion. Shipments increased $0.8 billion or 1.2 percent to $71.6 billion. Unfilled orders increased $6.1 billion or 1 percent to $592.9 billion. Inventories increased $1.6 billion or 0.9 percent to $170.1 billion.

Defense new orders for capital goods in July decreased $1.6 billion or 13.6 percent to $10.2 billion. Shipments decreased $0.4 billion or 4.6 percent to $8.3 billion. Unfilled orders increased $2 billion or 1.2 percent to $167.6 billion. Inventories increased $0.6 billion or 2.7 percent to $21.4 billion.

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