On Tuesday, the U.S. Census Bureau announced the August full report on manufacturers’ shipments, inventories, and orders:
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 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 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 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 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 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