New orders for manufactured goods increased increased $3.3 billion or 0.7 percent to $469 billion in May, the U.S. Census Bureau reported. This followed a 0.7 percent April decrease. Excluding transportation, new orders increased 0.4 percent.
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Shipments, up five of the last six months, increased $2.3 billion or 0.5 percent to $476 billion. This followed a 0.2 percent April decrease. Unfilled orders, down two consecutive months, decreased $0.4 billion to $984.4 billion. This followed a slight April decrease. The unfilled orders-to-shipments ratio was 6.25, down from 6.33 in April.
Inventories, also down two consecutive months, decreased $1.4 billion or 0.2 percent to $604.5 billion. The inventories-to-shipments ratio was 1.27, down from 1.28 in April.
New orders for manufactured durable goods in May, up following two consecutive monthly decreases, increased $2.7 billion or 1.3 percent to $217.4 billion, revised from the previously published 1.1 percent increase. This followed a 0.3 percent April decrease. Transportation equipment, up three of the last four months, had the largest increase, $1.7 billion or 2.7 percent to $63.1 billion. New orders for manufactured nondurable goods increased $0.6 billion or 0.2 percent to $251.7 billion.
Shipments of manufactured durable goods in May, up five of the last six months, increased $1.7 billion or 0.8 percent to $224.3 billion, revised from the previously published 0.7 percent increase. This followed a 0.7 percent April increase. Transportation equipment, also up five of the last six months, had the largest increase, $1 billion or 1.6 percent to $65.1 billion. Shipments of manufactured nondurable goods, up following two consecutive monthly decreases, increased $0.6 billion or 0.2 percent to $251.7 billion. This followed a 1 percent April decrease. Beverage and tobacco products, up four consecutive months, led the increase, up $0.5 billion or 3.8 percent to $12.9 billion.
Unfilled orders for manufactured durable goods in May, down two consecutive months, decreased $0.4 billion to $984.4 billion, unchanged from the previously published decrease. This followed a 0.1 percent April decrease. Transportation equipment, down three consecutive months, had the largest decrease, $2 billion or 0.4 percent to $563.4 billion.
Inventories of manufactured durable goods in May, up 28 of the last 29 months, increased $1.6 billion or 0.5 percent to $365.6 billion, unchanged from the previously published increase. 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. Transportation equipment, also up 28 of the last 29 months, had the largest increase, $1.5 billion or 1.4 percent to $108.2 billion.
Inventories of manufactured nondurable goods, down three consecutive months, decreased $3 billion or 1.2 percent to $238.9 billion. This followed a 1 percent April decrease. Petroleum and coal products, also down three consecutive months, led the decrease, down $2.3 billion or 4.3 percent to $51.9 billion. By stage of fabrication, May materials and supplies increased 0.3 percent in durable goods and decreased 2.3 percent in nondurable goods. Work in process increased 0.2 percent in durable goods and 1.8 percent in nondurable goods. Finished goods increased 1 percent in durable goods and decreased 1.7 percent in nondurable goods.
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