Durable Goods Orders Decline
New orders for durable goods fell 9.3% in June (U.S. Census Bureau).
What’s going on: Durable goods orders, which had been on the decline two of the past three months, “decreased $32.1 billion … to $311.8 billion” last month.
- The June decrease follows a 16.5% rise in durable goods orders in May.
The details: Excluding transportation, June’s orders inched up 0.2%, while excluding defense, they fell 9.4%.
Why it happened: Transportation equipment, which has also been on the decline two of the past three months, led the decrease, falling $32.6 billion, or 22.4%, to $113.0 billion.
Shipments: Shipments of manufactured durable goods, on the rise for the past seven months in a row, climbed $1.4 billion, or 0.5%, to $302.5 billion.
Unfilled orders: Unfilled orders for manufactured durable goods, which increased during 11 of the past 12 months, rose $14.4 billion, or 1.0%, to $1,470.0 billion.
Inventories: Inventories of manufactured durable goods, which had increased for nine consecutive months, grew $0.9 billion, or 0.2%, to $588.6 billion.