Durable Goods Orders Turn Downward in June

New orders for manufactured durable goods in June decreased $4.1 billion or 2.5 percent to $158.6 billion, reversing an upward trend of the previous two months, the U.S. Census Bureau announced Wednesday. Transportation goods led the decline; orders for non-transportation goods increased 1.1 percent.

Shipments of manufactured durable goods extended a record streak of decline into the eleventh consecutive month in June. Shipments fell $0.3 billion or 0.2 percent to $168.3 billion. The decline in shipments was much smaller than the 2.6 percent decrease in May, but the negative turn in new orders left doubt that a bottom has been reached.

Unfilled orders for manufactured durable goods in June, down nine consecutive months, decreased $6.6 billion or 0.9 percent to $740.1 billion. This followed a 0.3 percent May decrease. Inventories of manufactured durable goods in June, down six consecutive months, decreased $3 billion or 0.9 percent to $318.8 billion. This followed a 1.1 percent May decrease, the Census Bureau said.

Nondefense new orders for capital goods in June decreased $1.8 billion or 3.4 percent to $51.3 billion. Defense new orders for capital goods in June decreased $3.4 billion or 28.3 percent to $8.6 billion.
 

Source: JOC