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Durable Goods Up 0.4% vs 1.5% Expectation

September 25, 2020

The U.S. Census Bureau announces the August advance report on durable goods manufacturers’ shipments, inventories and orders:

New Orders

New orders for manufactured durable goods in August increased $1.0 billion or 0.4 percent to $232.8 billion, the U.S. Census Bureau announced today. This increase, up four consecutive months, followed an 11.7 percent July increase. Excluding transportation, new orders increased 0.4 percent. Excluding defense, new orders increased 0.7 percent. Machinery, also up four consecutive months, led the increase, $0.5 billion or 1.5 percent to $31.2 billion.

Overall durable goods orders pop of 0.4%, was less than the 1.5% increase which was expected.

Shipments

Shipments of manufactured durable goods in August, down following three consecutive monthly increases, decreased $0.7 billion or 0.3 percent to $244.1 billion. This followed a 7.6 percent July increase.

Transportation equipment, also down following three consecutive monthly increases, drove the decrease, $1.4 billion or 1.7 percent to $81.6 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in August, down five of the last six months, decreased $6.3 billion or 0.6 percent to $1,078.4 billion. This followed a 0.7 percent July decrease. Transportation equipment, down six consecutive months, drove the decrease, $6.9 billion or 0.9 percent to $728.0 billion.

Inventories

Inventories of manufactured durable goods in August, down three consecutive months, decreased $0.5 billion or 0.1 percent to $420.5 billion. This followed a 0.8 percent July decrease. Machinery, down seven of the last eight months, led the decrease, $0.4 billion or 0.6 percent to $69.1 billion.

Capital Goods

Nondefense new orders for capital goods in August increased $4.6 billion or 7.8 percent to $62.9 billion.

Shipments increased $2.2 billion or 3.3 percent to $70.1 billion. Unfilled orders decreased $7.1 billion or 1.2 percent to $593.7 billion. Inventories increased $0.1 billion or 0.1 percent to $193.0 billion. Defense new orders for capital goods in August decreased $0.5 billion or 3.3 percent to $13.7 billion. Shipments decreased less than $0.1 billion or 0.4 percent to $12.2 billion. Unfilled orders increased $1.5 billion or 0.8 percent to $181.6 billion.

Inventories increased $0.1 billion or 0.5 percent to $21.2 billion.

Revised July Data

Revised seasonally adjusted July figures for all manufacturing industries were: new orders, $466.7 billion (revised from $466.1 billion); shipments, $479.7 billion (revised from $479.5 billion); unfilled orders, $1,084.8 billion (revised from $1,084.3 billion) and total inventories, $686.4 billion (revised from $687.2 billion).

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