On Tuesday, the U.S. Census Bureau announced the August full report on manufacturers’ shipments, inventories, and orders:
Summary
New orders for manufactured goods in August, down two consecutive months, decreased less than $0.1 billion or virtually unchanged to $548.4 billion. This followed a 1.0% July decrease. 
New Orders
New orders for durable goods in August, down two consecutive months, decreased $0.5 billion or 0.2% to $272.7 billion, unchanged from the previous month. This followed a 0.1% July decrease. Also, down two consecutive months, transportation equipment drove the decrease, $1.0 billion or 1.1% to $92.0 billion. New orders for manufactured nondurable goods increased by $0.5 billion or 0.2% to $275.7 billion.
Shipments
Shipments of manufactured durable goods in August, up fifteen of the last sixteen months, increased $2.2 billion or 0.8% to $272.2 billion, up from the previously published 0.7% increase. This followed a 0.2% July increase. In ten of the last eleven months, transportation equipment led the growth, $1.7 billion or 2.0% to $88.1 billion. Shipments of manufactured nondurable goods, up seventeen of the last eighteen months, increased $0.5 billion or 0.2% to $275.7 billion. This followed a 1.9% July decrease. During three of the previous four months, chemical products increased by $0.6 billion or 0.9% to $66.8 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in August, up twenty-four consecutive months, increased $5.3 billion or 0.5% to $1,132.1 billion, unchanged from the previous release. This followed a 0.7% July increase. Up eighteen of the last nineteen months, transportation equipment led the increase, $3.9 billion or 0.6% to $659.0 billion.
Inventories
Inventories of manufactured durable goods in August, up nineteen consecutive months, increased $1.1 billion or 0.2% to $487.5 billion, unchanged from the previously published increase. This followed a 0.2% July increase. Machinery, up twenty-two consecutive months, led the increase, $0.5 billion or 0.6% to $84.4 billion. For two straight months, inventories of manufactured nondurable goods decreased by $2.3 billion or 0.7% to $312.7 billion. This followed a 0.4% July decrease. Petroleum and coal products, down three consecutive months, drove the decline, $3.2 billion or 6.1% to $49.5 billion. By stage of fabrication, August materials and supplies were virtually unchanged in durable goods and increased by 0.1% in nondurable goods. Work in process increased 0.2% in durable goods and decreased 2.9% in nondurable goods. Finished goods increased 0.6% in durable goods and decreased 0.6% in nondurable goods.
More Data Later This Week
More economic data will be released later this week, including the ADP Employment Report on Wednesday, Jobless Claims on Thursday, and Consumer Credit on Friday.
Sources: census.gov
