Economy
Durable Goods Orders Rise for Second Month
Written by Sandy Williams
August 26, 2015
The Durable Goods report from the US Census Bureau showed a 2 percent increase month to month of new orders in July. New orders data was stronger than expected and the second month of gain after an advance in June of 4.1 percent. July’s increase was led by orders for automotive and military goods.
The three month moving average (3MMA) increased by 1.23 percent month over month. The year over year growth rate of the 3MMA came in at negative 9.98 percent in July, deteriorating for the tenth straight month.
The press release from the Commerce Department read as follows:
New Orders. New orders for manufactured durable goods in July increased $4.6 billion or 2.0 percent to $241.1 billion, the U.S. Census Bureau announced today. This increase, up two consecutive months, followed a 4.1 percent June increase. Excluding transportation, new orders increased 0.6 percent. Excluding defense, new orders increased 1.0 percent. Transportation equipment, also up two consecutive months, led the increase, $3.8 billion or 4.7 percent to $83.2 billion.
Shipments. Shipments of manufactured durable goods in July, up two consecutive months, increased $2.3 billion or 1.0 percent to $243.2 billion. This followed a 0.9 percent June increase. Transportation equipment, also up two consecutive months, led the increase, $1.9 billion or 2.5 percent to $80.3 billion.
Unfilled Orders. Unfilled orders for manufactured durable goods in July, up two consecutive months, increased $2.3 billion or 0.2 percent to $1197.5 billion. This followed a virtually unchanged June increase. Transportation equipment, also up two consecutive months, drove the increase, $2.9 billion or 0.4 percent to $802.6 billion.
Inventories. Inventories of manufactured durable goods in July, down two of the last three months, decreased $0.1 billion or virtually unchanged to $402.1 billion. This followed a 0.4 percent June increase. Primary metals, down six consecutive months, drove the decrease, $0.2 billion or 0.5 percent to $37.1 billion.
Capital Goods. Nondefense new orders for capital goods in July increased $0.9 billion or 1.1 percent to $82.3 billion. Shipments increased $0.1 billion or 0.1 percent to $79.3 billion. Unfilled orders increased $3.1 billion or 0.4 percent to $762.2 billion. Inventories increased $0.2 billion or 0.1 percent to $177.3 billion. Defense new orders for capital goods in July increased $2.0 billion or 22.3 percent to $11.0 billion. Shipments increased $0.2 billion or 1.5 percent to $10.6 billion. Unfilled orders increased $0.5 billion or 0.3 percent to $149.8 billion. Inventories increased $0.2 billion or 1.0 percent to $23.0 billion.
Revised June Data. Revised seasonally adjusted June figures for all manufacturing industries were: new orders, $480.0 billion (revised from $478.5 billion); shipments, $484.4 billion (revised from $483.5 billion); unfilled orders, $1,195.2 billion (revised from $1,194.7 billion); and total inventories, $652.6 billion (revised from $653.6 billion).
Below is a graph showing the history of durable goods shipments and new orders 3MMA. You will need to view the graph on our website to use it’s interactive features, you can do so by clicking here. If you need assistance with either logging in or navigating the website, please contact our office at 800-432-3475 or info@SteelMarketUpdate.com.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Architecture billings flat in October after months of contraction
Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.
Trump taps Lutnick to be Commerce Secretary
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
New York state manufacturing activity ramps up to multi-year high
New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
CRU: Dollar and bond yields rise, metal prices fall as Trump wins election
Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.
ISM: Manufacturing index fell in Oct to lowest point of ’24
Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.