Durable Goods Orders Continue To Rise
New orders for manufactured durable goods maintained a steady increase of 1.6 percent in June, again thanks largely to growth in demand for transportation equipment.
According to information released today by the U.S. Census Bureau, new orders, which are an indicator of future manufacturing activity, were up $3.4 billion in June from May, to $221.6 billion. It was the second consecutive month of increases, following May's growth that mirrored June's 1.6 percent.
Transportation equipment, which has grown in four of the last five months, had the biggest increase in June, up $5.1 billion, or 8 percent, to $68.8 billion. Excluding transportation, new orders decreased 1.1 percent.
Shipments of manufactured durable goods continued to rise, but slowed a bit compared to May's 1.2 percent growth. In June, they were up 0.1 percent to $225.4 billion. The biggest increase in shipments came from machinery, which has grown four of the last five months and jumped 3.1 percent in June, to $32.9 billion. This was its highest level since the series was published in 1992.
May's figures were adjusted slightly with new manufacturing orders adjusted upward from $469 billion to $469.8 billion and shipments going from $476.8 billion to $476 billion.
Image credit: FreeDigitalPhotos.net.
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