The 2020 Mid-Year Economic Update_long

Durable Goods New Orders Up 3.6% in May

April saw the same 3.6 percent increase.

New orders for manufactured durable goods in May increased 3.6 percent to $231 billion, according to the U.S. Census Bureau. This increase, up three of the last four months, followed a 3.6 percent April increase. Excluding transportation, new orders increased 0.7 percent. Excluding defense, new orders increased 3.5 percent.

Transportation equipment, also up three of the last four months, led the increase, growing 10.2 percent to $74.3 billion. This was led by nondefense aircraft and parts. Shipments of manufactured durable goods in May, up three of the last four months, increased 1.2 percent to $229.7 billion. This followed a 0.6 percent April decrease.

Unfilled orders for manufactured durable goods in May, up three of the last four months, increased $8.1 billion or 0.8 percent to $1 trillion. This increase followed a 0.3 percent April increase.  Transportation equipment, also up three of the last four months, led the increase, by $5 billion or 0.8 percent to $616.6 billion.

Inventories of manufactured durable goods in May, up four of the last five months, increased $500 million or 0.1 percent to $378 billion. This was at the highest level since the series was first published on a NAICS basis in 1992, and followed a 0.3 percent April increase.

 Computers and electronic products, up two consecutive months, led the increase, $400 million or 0.8 percent to $46.5 billion.

Nondefense new orders for capital goods in May increased $7.1 billion or 9.3 percent to $83.5 billion. Shipments increased $4.3 billion or 6 percent to $75.8 billion. Unfilled orders increased $7.8 billion or 1.3 percent to $585.6 billion. Inventories increased $0.4 billion or 0.2 percent to $171.5 billion.

Defense new orders for capital goods in May increased $0.9 billion or 12 percent to $8.3 billion. Shipments increased slightly to $9.6 billion. Unfilled orders decreased $1.2 billion or 0.7 percent to $167.3 billion.

Inventories increased $300 million or 1.3 percent to $22.7 billion.

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