U.S. Factory Orders for Manufactured Goods Climb 0.7% in May to $400B

New orders for manufactured goods in May, up three of the last four months, increased 0.7% to $399.9 billion, the U.S. Census Bureau reported. This followed a 2.0% plunge in April. The gain was significantly better than the 0.1 percent increase analysts had been expecting.

New orders for manufactured durable goods in May decreased 0.2% to $208.8 billion, following a 4.7% decrease in April. New orders for manufactured nondurable goods increased 1.6% to $191.1 billion.

New orders for primary metals such as steel rose by 4.6% in May while orders for machinery were up 2.5%. However orders for computers and other electronic products dropped by 2.5%.

  • Shipments, up two of the last three months, increased 2.2% to $403.1 billion. This was at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.1 percent April decrease. 
  • Unfilled orders, up twelve of the last thirteen months, increased 0.6% to $611.3 billion. This was at the highest level since the series began and followed a 1.5% April increase. 
  • Inventories decreased slightly to $462.3 billion. This followed a 1.0% April increase. The inventories-to-shipments ratio was 1.15, down from 1.17 in April.

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