The 2020 Mid-Year Economic Update_long

Durable Goods New Orders Up 1.9% in May

Excluding transportation, new orders increased 0.6 percent.

New orders for manufactured durable goods in May increased 1.9 percent to $195.6 billion, according to the latest advance report from the U.S. Census Bureau. This increase, up two of the last three months, followed a 2.7 percent April decrease.

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Excluding transportation, new orders increased 0.6 percent. Excluding defense, new orders increased 1.9 percent. Transportation equipment, also up two of the last three months, had the largest increase, $2.7 billion or 5.8 percent to $49.6 billion. This was due to nondefense aircraft and parts which increased $2.7 billion.

Shipments of manufactured durable goods in May, up five of the last six months, increased $0.6 billion or 0.3 percent to $194.6 billion. This followed a 1.4 percent April decrease. Machinery, up three of the last four months, had the largest increase, $0.5 billion or 2.0 percent to $28.3 billion.

Unfilled orders for manufactured durable goods in May, up thirteen of the last fourteen months, increased $7.4 billion or 0.9 percent to $860.2 billion. This followed a 0.5 percent April increase. Machinery, up sixteen consecutive months, had the largest increase, $3.5 billion or 3.4 percent to $108.7 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 3.7 percent April increase.

Inventories of manufactured durable goods in May, up seventeen consecutive months, increased $4.1 billion or 1.2 percent to $355.4 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 1.2 percent April increase. Transportation equipment, also up seventeen consecutive months, had the largest increase, $1.7 billion or 1.6 percent to $107.8 billion. This was also at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.9 percent April increase.

Nondefense new orders for capital goods in May increased $4.0 billion or 5.8 percent to $72.9 billion. Shipments increased $0.7 billion or 1.0 percent to $66.8 billion. Unfilled orders increased $6.1 billion or 1.2 percent to $502.8 billion. Inventories increased $2.0 billion or 1.3 percent to $160.2 billion. Defense new orders for capital goods in May increased $0.3 billion or 3.9 percent to $8.7 billion. Shipments decreased $0.1 billion or 1.1 percent to $7.9 billion. Unfilled orders increased $0.8 billion or 0.6 percent to $149.2 billion. Inventories increased $0.4 billion or 1.9 percent to $20.8 billion.

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